Sept 17 (Reuters) - Steve Cohen, billionaire founder of

Point72 Asset Management, has stopped trading at the hedge fund,

according to a statement, although he is still making investment

decisions as a co-chief investment officer alongside Harry

Schwefel.

"He is taking a break from trading his own book and he feels

he can have a greater impact by focusing on running the firm,

driving strategic initiatives, and mentoring and coaching to the

next generation of talent," spokesperson Tiffany Galvin-Cohen

said in a statement.

Point72, which manages $35.2 billion in assets, has 185

investing teams, according to the firm's website.

Bloomberg first reported on the changes at Point72.