Steve Cohen Stops Trading for Point72, Marking End of an Era (2)

Steve Cohen has stepped away from the trading floor.

While the billionaire hedge fund founder remains Point72 Asset Management’s co-chief investment officer along with Harry Schwefel, he’s no longer investing clients’ capital. Cohen, 68, is instead focused on driving the firm’s growth and mentoring and developing talent, the firm said in an emailed statement.

Cohen has been one of the dominant forces in the industry for more than three decades and rebuilt his hedge fund into one of the world’s biggest after a costly insider-trading scandal. Even as he grew his firm into one with more than 185 ...