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.


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