...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!