Wednesday, 1 October 2014
Last updated 12 hours ago
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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...