Will The Last Person At SAC Capital Advisors Please Turn Out The Lights?

Posted by John Carney, Jan 11, 2008, 5:04pm

SAC suffered two high level departures today when both its president and chief financial officer announced they were departing. James Rowan, the chief financial officer, is leaving to become the chief operating officer of Ren Tech. The president, Brian Cohn has no plans. Supposedly his departure has come as a surprise to the firm.

SAC employees we spoke to moments ago had no idea that either man had left, so to the rank and file traders both departures come as a surprise. Of course, these surprised traders also couldn’t give us any dish about why Cohn was departing so suddenly because they had no idea he was already out the door.

Cohn, Rowen Depart SAC Capital [Wall Street Journal]

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Comments

Posted by , Jan 11, 2008 5:49PM

Could SAC be having some lackluster returns? Maybe too much estrogen.

Posted by Anonymous, Jan 11, 2008 10:26PM

I think Cohn lost a child in a horrible swimming pool accident this past year. Wouldnt surprise me if he needed some time to deal with the loss.

Posted by , Jan 12, 2008 4:49PM

Correct 10:26, not sure how he answered the bell all year.

Posted by CTResident, Jan 14, 2008 9:00AM

I live near Cohn. That was a horrible, horrible time. Everyone home, no one could get the child's arm out of the pool filter. They were devastated. He has plenty of money and I am sure he figured there are some things more important in life. I cannot imagine losing a 6-year-old, especially one that I was holding and unable to get out of the pool. It would scar me. I hope he feels better.... you never recover, you just hope the pain lessens.

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