Outside Point72 Asset Management Monitor Has Inside Ties But It's Fine

Author:
Updated:
Original:

Bart M. Schwartz, the outside consultant tapped by Steven A. Cohen and federal prosecutors to monitor the operations at Mr. Cohen’s new family office, has closer ties to the firm than previously known. The son of an executive at Mr. Schwartz’s nationwide compliance consulting firm is a portfolio manager at Point72 Asset Management, the firm formerly known as SAC Capital Advisors. Mr. Schwartz said that the potential conflict was disclosed to Mr. Cohen and his legal team and that federal prosecutors and all sides were comfortable with the situation. Mr. Schwartz, a former federal prosecutor, said that he disclosed the matter to the parties soon after he was approached about serving as the outside consultant for Mr. Cohen’s firm. [Dealbook]

Related

Kinder, Friendlier Point72 Asset Management Asks Employees "How Do You Feel About This Chaise?"

The hedge fund formerly known as SAC Capital is nice now, so employees get to...weigh in on decor decisions.

Firing Watch '15: People Found Guilty Of Speaking To/IMing With/Thinking About An Employee Of Point72 Asset Management

It's unclear if this new rule will remain a policy exclusive to BlueCrest Capital Management or if it will go industry-wide.