Point72's head of HR is leaving, following the firm's former president out of the door

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Point72's head of HR is leaving, following the firm's former president out of the door

Mike Butler

Photo courtesy of Point72 Asset Management

Mike Butler.

  • Mike Butler, the head of human resources at Steve Cohen's hedge fund Point72, is leaving.
  • His departure comes in the wake of a lawsuit filed by a staffer alleging widespread gender discrimination, including stark wage disparities.

The head of human resources at billionaire Steve Cohen's hedge fund is leaving, according to people familiar with the matter.

A profile for Mike Butler, who was the $12 billion fund's head of human capital, was removed from Point72's website as of Tuesday afternoon. Butler worked at Point72 since 2014, according to a cached version of the web page.

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In a statement provided by a spokesman, Point72 said: "Mike led the modernization of the Human Capital team at Point72. He has been a person of high integrity who has been passionate about improving the Firm. We thank him for his service."

Reached by phone on Tuesday, Butler declined to comment.

The departure comes in the wake of a lawsuit filed by a female employee which alleged widespread gender discrimination at the hedge fund, including stark wage disparities between men and women for the same work.

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Doug Haynes, the firm's former president, who was named in the lawsuit, departed earlier this year.

In 2016, Butler and Haynes, a McKinsey veteran, joined forces with an external consulting firm to identify the essential skills required for individual roles, build an inventory of those skills across every position in the firm, and map it all out, Business Insider reported at the time. The effort was a step toward revamping the company's culture, which had been tarnished by insider trading.

Cohen's predecessor firm, SAC Capital, pleaded guilty to insider trading in 2014 and paid a record fine of $1.2 billion to settle claims.

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