Departure Watch ’13: SAC Capital

Departure Watch ’13: SAC Capital

Yet more Little Steves have left the nest.

Three London-based portfolio managers have left SAC Capital LP, adding to a number of recent departures from the embattled hedge-fund firm. Quantitative traders Woie Chan, Paul Crouch and Alidod Shirinbekov left the firm last week, according to filings at Companies House, the U.K. registry of companies. The three traders joined SAC Global Investors LLP, the London arm of SAC, in the fall of 2010. On Monday, one of SAC’s top U.S.-based managers, energy portfolio manager Nick Tiller, e-mailed colleagues saying he planned to retire and focus on his foundation…The defections indicate employees are looking for new opportunities, despite aggressive steps by SAC founder Steven A. Cohen to sweeten the pot for those who stay on. Those who walk away are likely forgoing their deferred compensation, which SAC typically keeps when employees leave.

[WSJ]

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