Point72 Seeks Ex-Prosecutor, FBI Vets

Dec 16 2014 | 10:31am ET

Point72 Asset Management is looking to hire another former federal prosecutor, as well as several others whose colleagues have tormented the firm for years.

The former SAC Capital Advisors, which last year pleaded guilty to insider-trading charges and returned outside capital, hopes to add a former prosecutor and several Federal Bureau of Investigation agents to its compliance team, The New York Times reports. Point72 in April hired former prosecutor Vincent Tortorella as chief compliance and surveillance officer; Tortorella is leading the new search.

Despite promises of big salaries, none of the FBI agents or ex-prosecutors approached have expressed interest, according to the Times. Others have been more amenable; Point72’s compliance team has grown to 35 employees this year, including a Central Intelligence Agency veteran and former New York City police officer.

Firm founder Steven Cohen is widely seen as hoping to manage outside money again, and it is likely that the compliance hires are designed to show that he and the firm are serious about stamping out illicit activity.

“We had the corporate equivalent of a heart attack, and we need to make sure that never happens again,” Tortorella told the Times. “There’s a determination from the top down that history does not repeat itself here.”

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