SAC's Cohen Brings Trader Simonian Under His Wing

Jan 6 2012 | 9:54am ET

Steven Cohen is adding some more firepower to his own team at SAC Capital Advisors.

Cohen is moving industrials trader Charles Simonian onto the so-called Cohen Account, personally overseen by Cohen and managing about $3 billion of the $14 billion firm's assets. Simonian will oversee the account's industrials trading with longtime Cohen protégé Chandler Blockage, Reuters reports.

Simonian has worked at SAC's Sigma Capital group since joining the firm in 2008. He formerly managed his own hedge fund, Exton Capital.

SAC returned about 8% last year.

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