Point72 Human Resources Chief Leaves Cohen's Hedge Fund Firm
Point72's HR Chief Leaves Cohen's Firm, Business Insider Reports
(Bloomberg) -- Point72 Asset Management’s head of human resources Mike Butler is leaving after almost four years at Steven Cohen’s hedge fund firm.
Butler joined Point72 in 2014 from outside the finance industry. During his tenure at the firm, Butler was responsible for bringing on key senior executives, vetting new hires and leading the firm’s employee survey.
"After 30 years as an HR professional, including nearly four years as Head of Human Capital at Point72, I have decided to retire," Butler said by email Wednesday. "I will continue to serve as a consultant to the firm through the autumn and I am leaving the Point72 Human Capital function in very capable hands.”
Ariel Speicher will now assume the HR role, according to the firm’s website.
In a statement provided to Bloomberg News on Wednesday, Point72 thanked Butler for his service.
“Mike led the modernization of the human capital team at Point72," the firm said. "He has been a person of high integrity who has been passionate about improving the firm.”
In February, Cohen, Point72 and its former president, Doug Haynes, were accused by a female employee of discriminating against women and promoting a culture of sexism. The suit, filed in federal court in New York, alleged that the firm paid women less money than male counterparts for doing similar jobs. Point72 denied the allegations. Haynes stepped down in March.
Billionaire Cohen returned to managing client money earlier this year, raising $3 billion, after a U.S. ban on him trading outside capital was lifted. Cohen’s former hedge fund, SAC Capital Advisors, pleaded guilty in 2013 to securities fraud and paid a record $1.8 billion fine to the government.
Butler previously worked for Ensign-Bickford Industries, whose subsidiaries are involved in everything from defense contracting to making pet food tastier.
Business Insider reported the departure earlier Wednesday.
--With assistance from Alan Mirabella
To contact the reporter on this story: Hema Parmar in New York at hparmar6@bloomberg.net.
To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Alan Mirabella, Vincent Bielski
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