Last Friday, hours after a report in the Wall Street Journal claimed FrontPoint's Steve Eisman was weighing leaving the firm, Eisman put out a statement saying that by "I want to have more control over my destiny" he simply meant “I am in discussions on a structure which will provide me with greater operational flexibility and control over my own business" and that he and Eisman are two souls, one body "now." And by now he might literally right now, this second. Next week, month, year is anyone's guess, with sources saying Eisman "will exit before year-end." But don't hang those heads too low, FrontPointers. Steve did throw the firm and its investors this (sad trom)bone.
...he may not sever ties completely. He may reach an agreement with the firm to continue using its back-office functions, similar to arrangements the firm has reached with other departing fund managers.
Eisman On Losing Streak [NYP]