Life without Steve won't be easy, and they'd have to get used to an entirely different management style, but it's something.
SAC Capital Advisors LP portfolio managers and analysts in London have held discussions with rival hedge funds including Moore Capital Management LP about moving to those firms as SAC prepares to close its office here, according to people familiar with the matter. SAC's abrupt move last month to shutter its London office by year-end, as the U.S. hedge-fund giant retrenches following a record insider-trading settlement, has spurred a flurry of discussions between SAC traders, analysts and portfolio managers and their rivals at other firms, according to people close to firms involved. Besides Moore, SAC employees have had talks about potential jobs with people at Millennium Management, BlueCrest Capital Management and Balyasny Asset Management, according to people close to discussions with those firms. About a dozen SAC employees in recent weeks have held discussions, including at face-to-face meetings in London, with executives of Moore, Louis Moore Bacon's $12 billion U.S. hedge-fund firm, according to people briefed on the meetings.