August 18, 2014 / 1:45 PM / 3 years ago

Former SAC Capital Advisors President Tom Conheeney leaves firm

BOSTON, Aug 18 (Reuters) - Thomas Conheeney, who was president of Steven A. Cohen’s SAC Capital Advisors during the years the hedge fund was being investigated for insider trading, has stepped down and left successor organization Point72 Asset Management, it said on Monday.

Douglas Haynes will succeed Conheeney at Point72 Asset Management, the successor to SAC after the hedge fund pleaded guilty to insider trading charges and transformed into a so-called family office.

Conheeney is the latest in a string of top lieutenants to leave Cohen’s firm after the guilty plea and the government’s decision to prohibit it from investing outside clients’ money. Cohen has never been accused of criminal wrongdoing but still faces a civil administrative action. (Reporting by Svea Herbst-Bayliss; Editing by Lisa Von Ahn)

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