People Moves

Several Of Steven Cohen's "Longtime" Traders Leave His Firm Point72 - Report

Eliane Chavagnon Editor - Family Wealth Report September 19, 2014

Several Of Steven Cohen's

Several “longtime traders” for Steven Cohen have left his firm Point72 Asset Management, the Wall Street Journal report, citing people familiar with the matter.

Several “longtime traders” for Steven Cohen have left his firm Point72 Asset Management, the Wall Street Journal reported, citing people familiar with the matter.

Portfolio manager Chandler Bocklage was among those who left the firm this week, the people reportedly said. Three other portfolio managers — Anthony Chedid, Ted Orenstein and Tom Rabolli — are also said to have departed.

“Point72 has also effectively closed its Boston office, keeping only some compliance staffers there, according to people familiar with the matter,” the WSJ said. Steven Rosen, a fundraiser and recruiter who ran the Boston office, has reportedly left the firm.

All the individuals were veterans of SAC Capital Advisors, the predecessor to Point72 that pleaded guilty to insider trading charges last year (see more here).

A Point72 spokesperson reportedly confirmed the departures and described them as “part of routine employee turnover.”

The firm's longtime president, Thomas Conheeney, is said by the news service to have resigned last month.

However, the Point72 spokesman told the WSJ that the firm has promoted nine analysts to portfolio manager positions this year and intends to increase its emphasis on promoting from within.

Point72, which is based in Stamford, CT, manages mover $9 billion, the WSJ said, citing a person familiar with the matter.

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