Departure Watch '13: SAC Capital

Author:
Publish date:
Updated on

Yet more Little Steves have left the nest.

Three London-based portfolio managers have left SAC Capital LP, adding to a number of recent departures from the embattled hedge-fund firm. Quantitative traders Woie Chan, Paul Crouch and Alidod Shirinbekov left the firm last week, according to filings at Companies House, the U.K. registry of companies. The three traders joined SAC Global Investors LLP, the London arm of SAC, in the fall of 2010. On Monday, one of SAC's top U.S.-based managers, energy portfolio manager Nick Tiller, e-mailed colleagues saying he planned to retire and focus on his foundation...The defections indicate employees are looking for new opportunities, despite aggressive steps by SAC founder Steven A. Cohen to sweeten the pot for those who stay on. Those who walk away are likely forgoing their deferred compensation, which SAC typically keeps when employees leave.

[WSJ]

Related

Bonus Watch '13: SAC Capital

Back in December, a bunch of recruiters made the bold claim that following the government's charges against former portfolio manager Mathew Martoma, SAC Capital employees were, if not giving them the time of day, at least waiting a few seconds longer before hanging up the phone. At another firm, the turn events probably would have been cause for concern that the staff would be abandoning ship in short order. Since we're talking about SAC, though, we figured not only would The Big Guy & Co not be concerned about the prospect of mass resignations but would take the opportunity to remind people that this is SAC Capital and at SAC Capital, they don't receive resignation letters, they only issue pink slips, lest anyone be getting any ideas. So you can imagine our shock and horror to find out this happened: