SAC Loses London Quant Traders

Oct 2 2013 | 12:53pm ET

Three quantitative portfolio managers have left SAC Capital Advisors, the latest exits from the embattled hedge fund firm.

Woie Chan, Paul Crouch and Alidod Shirinbekov exited the firm's London office on Sept. 26, according to regulatory filings. The three were among 18 partners of SAC Global Investors at the end of last year.

Their exits follow the retirement of energy manager Nick Tiller and analysts Alexey Chentsov and Santiago Falcone, as well as the layoffs of about a dozen marketing and sales staffers. Still, in spite of SAC's troubles—the firm is fighting a criminal insider-trading indictment—predictions of a mass exodus have yet to be fulfilled. SAC has offered generous bonus packages in an effort to hold onto talent even as it considers how large a staff it will need to manage a smaller capital base.

SAC, with about 1,000 employees, will shrink from about $14 billion to about $9 billion under management by the end of the year due to redemptions. Almost all of the remaining capital will belong to founder Steven Cohen and firm insiders.

Shirinbekov has joined London-based quantitative shop BlueCrest Capital Management, which is expanding into equities trading, Bloomberg News reports.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


Hedge Funds Swarm Into Palm Beach

Oct 27 2016 | 2:32pm ET

As the first flakes of snow fall on New York's northern suburbs, Dan Weil of South...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...