Cohen Quits Robin Hood Board

May 2 2014 | 11:13am ET

SAC Capital Advisors founder Steven Cohen is leaving the board of a major Wall Street charity.

Cohen will step down from the Robin Hood Foundation’s board after a decade, he wrote to its chairman, Starwood Capital Group CEO Barry Sternlicht. Cohen said he would join the group’s emeritus board.

Cohen’s decision comes after SAC’s guilty plea to insider-trading charges was accepted by a federal judge last month. In addition to paying a $1.8 billion fine, SAC is no longer permitted to manage outside capital and has become a family office known as Point72 Asset Management.

Point72 will continue to have a representative on Robin Hood’s board in the former of Doug Hayne, who joined the firm earlier this year.

In his resignation letter, Cohen made clear that he would continue his work with the charity, which was founded in 1988 by Tudor Investment Corp. chief Paul Tudor Jones. The group focuses on alleviating poverty and on disaster relief in the New York area. Cohen’s work with Robin Hood has focused on military veterans. Cohen said he would remain focused on that area.


In Depth

Change In 'Accredited Investor' Definition Could Hurt Crowdfunding Space

Jul 25 2014 | 8:14am ET

The Securities and Exchange Commission is considering changes to its 30-year-old...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note