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Handful of SAC Employees Not Even Waiting For Bonuses To Hit Before Turning In Their Fleeces

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Others are toughing it out 'til February.

In the wake of the firm’s recent guilty plea on insider trading charges, several traders and analysts have landed new positions at other financial firms. Among the latest moves, BlueCrest Capital Management, a London-based hedge fund, has hired several employees over the last three months. They include Nicholas O’Grady, a former SAC oil and gas portfolio manager who joined BlueCrest in November after working nearly two years for the Sigma Capital division of Mr. Cohen’s hedge fund. An energy analyst, Eugene Lipovetsky, joined him at BlueCrest soon after. BlueCrest, which manages $35 billion, has already hired Lia Forcina and Alidod Shirinbekov from SAC’s soon-to-be-closed London office...Hedge fund employment recruiters say they expect the pace of departures from SAC to quicken after the firm fully pays out year-end bonuses later this month and in February. SAC, which began the year with $15 billion and nearly 1,000 employees, is in the process of slimming down as it adjusts to running a family office that will mainly manage Mr. Cohen’s own money.

More Employees Depart SAC Capital as Year End Nears [Dealbook]