Sunday, 29 May 2016
Last updated 1 day ago
Jan 15 2014 | 2:31pm ET
A top SAC Capital Advisors trader has left the embattled firm to found his own hedge fund.
Vishal Ghiya resigned from SAC's Sigma Capital Management unit last week, Bloomberg News reports. Ghiya focused on a number of industries at SAC, managing about $500 million.
SAC is becoming a family office in the wake of its guilty plea last year to insider-trading charges. The firm is returning some $6 billion to clients after agreeing to cease managing outside capital.
Ghiya is the second SAC staffer known to have left the firm this year. Andrew Schiffrin, who managed industrial stocks, left on Jan. 6.