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Steve Cohen, the founder of Point72 Asset Management, has announced his decision to relinquish the title of president as part of a strategic shift within the firm.
This move is aimed at strengthening the leadership framework at Point72 by creating a new executive committee. The committee will play a crucial role in guiding the operational and strategic decisions of the hedge fund, according to a memo reported by Bloomberg.
Cohen will remain the key force at the firm and retain the roles of chairman and CEO, but the re-org will see Harry Schwefel succeed him as president and work closely with the heads of Point72’s macro and quant businesses.
Cohen’s decision aligns with a growing trend among hedge fund billionaires to diversify their leadership teams. By expanding the ranks of senior management, they leaders aim to enhance decision-making processes and adapt to the evolving financial landscape.
Point72 now manages more than $45bn and was one of the top multi-strategy performers in 2025.
Multi-managers: Key trends – free report download
❱ AI and talent are defining 2026 themes for the sector
❱ Reducing complexity tops the operational agenda
❱ AI impact is concentrated in the middle office
❱ Increased use of outsourcing to drive enhancements
SS&C Multi-manager survey 2026
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