Millennium Adds SAC Vets As Troubled Firm Sheds Sales Staff

Sep 16 2013 | 12:29pm ET

SAC Capital Advisors has lost a pair of analysts to Millennium Management and has laid off about a dozen marketing and sales team members.

Alexey Chentsov, a quantitative analyst who spent nine years at SAC, and Santiago Falconi, who worked there for seven, were named portfolio managers at Millennium. They will work for former SAC portfolio manager Andres Anker, who left the embattled hedge fund earlier for Israel Englander's shop.

The hires appear to put an end to a gentlemen's agreement between Englander and SAC founder Steven Cohen not to poach each other's employees, CNBC reports.

A number of other recent departures from SAC were less voluntary: According to Reuters, the firm several seeks ago laid off about a dozen marketing and sales staffers, bowing to the reality that it will soon manage little if any outside capital and has little hope of raising more while it is fighting criminal insider-trading charges.

Those layoffs, and the Millennium exits, aside, SAC has not seen a flood of departures from its investment staff, Reuters reports. The firm has recently announced another round of retention bonuses as it seeks to hold on to talent.


In Depth

Delayed Flash Crash Arrest Highlights Difficulties Detecting Fraud

Apr 23 2015 | 7:19am ET

The five years it took regulators to bring high-profile charges against a UK trader...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Opportunities Ahead: Asian Fixed Income and Currency Markets

Apr 24 2015 | 6:18am ET

For hedge funds focusing on Asia, the policy uncertainty, unclear interest rate...

 

Editor's Note