Shortly after a gender discrimination lawsuit was filed against Point72, Steven Cohen’s private investment firm that he set up to manage his personal wealth, Douglas Haynes resigned as the firm’s president.
The lawsuit named Point72, Haynes, and Cohen as defendants in the lawsuit. Although the complaint did not accuse Cohen of misconduct, it did hold him responsible for what it alleges is a culture that promotes demeaning and underpaying female employees of the firm.
Haynes is specifically called out in the complaint about allegedly demeaning women. According to the lawsuit, Haynes allegedly called one of the women working for him a “dumb blonde” and kept the word “pussy” written on a whiteboard in his office for several weeks. Women were allegedly required to attend meetings with Haynes, and other men, in his office with the explicit reference to their genitals on display.
The lawsuit further alleges that women were underrepresented at the executive level, with only one woman making it to portfolio manager alongside 124 men. Continue reading