Wednesday, 22 October 2014
Last updated 6 hours ago
Oct 21 2013 | 1:32pm ET
Another SAC Capital Advisors portfolio manager in London has left the scandal-plagued hedge fund.
Lia Forcina accepted a job at BlueCrest Capital Management this month, Bloomberg News reports. She is the second London-based SAC manager to move to that firm in the past two months, following Alidod Shiribekov's exit in September.
Forcina managed more than US$700 million in financial stocks for SAC, which she joined in 2011 from Fenician Capital Management. Prior to moving into hedge funds, Forcina worked at Morgan Stanley.
Forcina is the fifth London-based SAC portfolio manager to leave the firm, following Shirinbekov, Woie Chan, Paul Crouch and John Levavasseur. Levavasseur joined Millennium Management, which also hired SAC analysts Alexey Chentsov and Santiago Falconi.
SAC has reportedly reached a tentative settlement of criminal insider-trading charges with federal prosecutors, one that will see the firm pay more than $1 billion and give up managing outside capital for a period of time.
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…
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