SAC Headcount Down As Some Employees Shun Bonuses

Oct 22 2013 | 9:47am ET

SAC Capital Advisors, on the verge of a deal to settle criminal insider-trading charges, has dug deep to hold on to its employees. Still, some are not waiting for their bigger bonuses next year to leave the scandal-tarred hedge fund.

A number of SAC portfolio managers and analysts have left the firm this year to join the likes of BlueCrest Capital Management and Millennium Management, or, as in the case of Anil Stevens and his team at SAC, to launch their own hedge funds. SAC's headcount has fallen by about 50 employees, to 950, according to regulatory filings.

Among those leaving the firm were Justin Dodd, who joined Balyasny Asset Management in February as a consumer portfolio manager, and David Selvers, a former technology manager at the firm, Bloomberg News reports. Selvers joined Greenwich, Conn.-based Conatus Capital Management in June.


In Depth

Hedge Fund Veteran Peter Borish Talks Trading

Dec 17 2014 | 9:32am ET

Peter Borish says 2014 was “tricky” from a trading perspective. “The best...

Lifestyle

Cohen Donates $1.5M To GOP Governors Association

Dec 10 2014 | 7:13am ET

The Republican Governors Association raised close to $25 million from October 1...

Guest Contributor

Q&A With Daniel Gallancy: Institutional Interest In Bitcoin Is Growing Steadily

Dec 12 2014 | 7:54am ET

Daniel Gallancy is founder and CEO of SolidX, a provider of total return swaps for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.