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

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Quattrex Sports AG Debuts Soccer-Focused UCITS Fund

Sep 9 2016 | 9:54pm ET

Innovative alternative investment company Quattrex Sports has unveiled a new UCITS...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...