SAC Capital Adds Compliance Pro To Boston Office

Jun 17 2011 | 8:32am ET

SAC Capital Advisors has hired its first compliance officer in Boston, the office that once housed admitted insider-trader Noah Freeman.

Gina DiMento oversees compliance for the roughly dozen portfolio managers and analysts at SAC's Beantown office. SAC Boston's compliance needs had previously been handled by SAC's compliance teams in Stamford, Conn., and New York, Bloomberg News reports.

DiMento, who joined SAC last month, previously worked at AGS Law Group, which advises hedge funds, as well as PAR Capital Management and Wellington Management Co.

Freeman, who has pleaded guilty to insider-trading as part of the government's crackdown on expert-networks, testified in the trial of Winifred Jiau last week that he traded on confidential information while at SAC from 2008 through 2010. Freeman said he went to some lengths to hide his activities from SAC's compliance department, billing Primary Global Research, for which Jiau consulted, in the form of higher trading commissions.

SAC has said that it is "outraged by the alleged actions of two former employees," Freeman and Donald Longueuil, who has also pleaded guilty in the case. The hedge fund currently faces four separate investigations, though neither the firm nor its founder, Steve Cohen, have been accused of wrongdoing.


In Depth

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedging Against Reputational Risk in the 21st Century

Feb 12 2016 | 7:18pm ET

For investors, the first step in researching a new fund or manager is to google...