Skip to main content

Recruiter: SAC Employees Are Now Waiting 10 Seconds Instead Of 3 Before Hanging Up On Us

  • Author:
  • Updated:

...hedge fund recruiters in the last week said they’re starting to see signs that the rock-solid allegiance of these top-shelf traders, who help keep the 56-year-old billionaire art-lover up to his Picasso in fine art, is softening. Traders who recently blew off recruiters looking to pitch them on leaving Cohen’s $14 billion Stamford, Conn., firm are now at least hearing them out...To be sure, Bob Olman, president of Alpha Search Advisory Partners, a hedge-fund executive search firm, said he has seen no noticeable uptick in résumés from SAC since Martoma’s arrest. Michael Castine, a recruiter at executive search firm Korn/Ferry International, also confirmed that he is not seeing a widespread move by SAC traders to bolt. SAC has been a target of the government’s insider trading crackdown for so long, he noted, that employees are nearly immune to it by now. “SAC seems to have been a target for quite some time and they’ve been through this before,” he said of Cohen’s roughly 1,000 employees. “I guess it’s safe to say nobody’s reached out to say, ‘Get me out of here.’” [NYP]


Things Could Be Worse But They Could Also Be Better At SAC Capital Right Now

The good news, if you are Mr. Steve Cohen: you were neither charged nor "mentioned by name" in the criminal complaint against your former employee, Mathew Martoma. The less good news: YOU ARE PORTFOLIO MANAGER A. YOU NEVER WANT TO BE PORTFOLIO MANAGER A!

Things Could Be A LOT Better At SAC Capital Right Now

Back in October, we detailed a list of things that, if you are the hedge fund manager who goes by the name Steven A. Cohen, you really don't want to hear first thing in the morning. They included: “The fleeces are on back order”; “Your ex-wife is in the lobby”; “There’s a photographer here who said he’s been authorized to shoot you wearing a king’s robe and crown for a set of playing cards”; “You’ve been outmaneuvered for the Toledo Mud Hens. But I hear the Binghamton Mets may be available.” Today we must update that list to include another thing, perhaps THE thing,* that people delivering news to Cohen don't want to relay. Paraphrasing but any variants on: "Mr. Cohen, we've received a Wells notice and by the way, they're considering naming you personally."

SAC Thinking the Unthinkable

The once-proud firm, which could blithely charge three-and-50 with a dismissive shrug of the shoulders or a penetrating, "you've got a lot of fucking nerve to question me" glare, has suffered indignities ranging from a snub from Citigroup (Citigroup!) to begging and coughing up extra cash to hang on to employees to pleading with clients to stick with it through the hard times, even as it continues to post double-digit returns. Now, it's having Japanese banks turn up their noses at a once-in-a-lifetime, too-good-to-be-true opportunity to get a little piece of the Big Guy's pie.

Has Steve Cohen Started Wearing A Ping Jiang Mask While Walking The SAC Trading Floor, White Board Marker In Hand?

Unclear but, based on recent reports, very possible. If you can come up with another idea re: how the "intimidating Cohen has become even more intimidating" in the wake of MartomaGate, we're all ears.