Monday, 4 May 2015
Last updated 10 hours ago
Oct 22 2013 | 1:06pm ET
SAC Capital Advisors will close its London office at the end of the year as it seeks to survive criminal insider-trading charges.
The decision to leave the British capital, first reported by Reuters, comes amidst an exodus of staff from the office. Several senior employees, including portfolio managers, have left SAC. Lia Forcina and Alidod Shirinbekov moved to BlueCrest Capital Management, and John Levavasseur joined Millennium Management. Woie Chan and Paul Crouch have also left the firm.
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.
The London office will become the second SAC office to close this year; earlier, it shuttered its Chicago office. The firm's other offices, in addition to its Stamford, Conn., headquarters, are in Beijing, Boston, Hong Kong, New York, Singapore and Tokyo.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…