Departure Watch ’14: The Hedge Fund Formerly Known As SAC Capital

Apparently not everyone is interested in sticking around for the chance to manage Steve Cohen’s second cousins’ money, or for the new zip-ups and other assorted swag.

Three technology stock traders have left the Boston office of Steven A. Cohen’s nearly $10 billion family office over the last week in a new round of defections at a firm that is still dealing with the fallout from a significant insider trading investigation. The three traders who resigned from Point72 Asset Management are Telis Bertsekas, Michael Valentine and Nina Hughes, said two people who were briefed on the matter but not authorized to speak publicly. All three had worked in the relatively small Boston office of the 850-employee firm, which maintains its headquarters in Stamford, Conn. The departures of Mr. Bertsekas and Ms. Hughes are notable because the two jointly managed a portfolio of mainly technology stocks with a value of several hundred million dollars.

Three Traders Leave Steven Cohen’s Office in Boston [Dealbook]

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4 Responses to “Departure Watch ’14: The Hedge Fund Formerly Known As SAC Capital”

  1. Quant me maybe... says:

    You know the real reason they left? I'll fucking tell you. This is not Silicon Valley, it's fucking Stamford, CT. The fleeces aren't fleeces, just look at the picture! They're fucking Sergey Brin and Mark Zuckerberg jogging jackets! Does that shit look good in Business Casual? FUCK NO! Shit gets cold here in Connecticut and protocols must be observed — It's fleece for a good reason. Now get with the fucking program and get the right fucking attire or there will be more blood in the streets.

    >Jesus Stevie, you lose your fucking mind or what?

  2. InfiniteGuest says:

    Poll: which is more of a backwater? Boston or Stamford?

  3. Not Izzie says:

    Bess, you outdid yourself: Stevie hiring a female trader — that's hysterical. What's next? A DB fictional piece in which Stevie speaks civilly to employees or fails to seize an opportunity to sell his mom for a buck?