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Point72 Asset Management president resigns

Point72 Asset Management LP President Douglas Haynes has resigned.

According to a source familiar with the matter, Steve Cohen told employees March 16 when Haynes resigned that he led Point72 through the family office period and the reintegration of the firm to its status as a registered investment adviser. He also oversaw a successful capital raise that exceeded the firm's expectations. Haynes and Cohen took stock and agreed that this is a natural point to make way for a new, different type of leader.

The report comes about a month after a female employee filed a lawsuit alleging that the company has a sexist work environment and does not pay employees equitably. Haynes' departure was unrelated to the litigation, and an internal memo announcing his resignation did not mention the litigation, The New York Times reported.

A spokesperson for Point72 Asset Management confirmed Haynes' departure to S&P Global Market Intelligence.