At the worst of all possible times…SAC Capital Advisors, run
by hedge fund titan Steven A. Cohen, has lost seven staff in Hong Kong and
relocated five others there to New York and London , according to
regulatory filings and people familiar with the matter told YahooFinance.
The departures come at a challenging time for the firm, with
investors in February submitting redemption notices to pull around $1.7 billion
from the $15 billion fund following a U.S. insider trading probe. Cohen
has not been accused of wrongdoing, but the investigation led to the arrest of
veteran portfolio manager Michael Steinberg in March, one of Cohen's closest
confidantes….
Wait…wait…there’s more at http://finance.yahoo.com/news/sac-capital-loses-staff-hong-032000393.html
No comments:
Post a Comment