SAC London Staff Look To Big Rivals

Nov 20 2013 | 11:31am ET

With SAC Capital Advisors set to close its office by the end of the year, its employees in the British capital are casting a relatively small net in their search for new jobs.

The office's portfolio managers and analysts have interviewed with Balyasny Asset Management, BlueCrest Capital Management, Millennium Management and Moore Capital Management, The Wall Street Journal reports. Moore alone has held talks with about a dozen SAC London employees, discussions that involved Henry Bedford, co-risk manager of the Moore Macro Managers Fund.

SAC's London traders hope to keep their teams together when they move to a new firm, although there has been no agreement for them to move as a unit yet. Some others have held talks about keeping the office together and spinning it off from SAC, although it is unclear whether the money could be raised for such an effort.

At least some of SAC's London staff are expected to remain with the firm, including the CEO of the office, Michael Ferrucci, an American.

SAC earlier this month pleaded guilty to insider-trading charges. It will pay a $1.2 billion fine and has agreed to cease managing outside capital.


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