SAC Asia Ops. Head Out

Apr 16 2012 | 12:48pm ET

SAC Capital Advisors is losing its Asia-Pacific chief after a year of major growth in the region.

Jay Luo has resigned as head of the hedge fund's operations in the region. While Luo did not manage any money, he did oversee the hedge fund's business in the region. That business took several steps forward last year, with the hiring of four portfolio managers, office growth in Hong Kong and plans to open a new office in Tokyo, its fourth in Asia.

Luo led SAC's Asia office for six years. He formerly was a member of the firm's risk-management operation in Stamford, Conn., and all told spent a decade at the firm.

Luo's immediate plans are unclear, although he is said to have left SAC to pursue other opportunities.

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