Tue, May 3, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Seven SAC Capital Hong Kong staff leave firm

Monday, April 15, 2013

From Precy Dumlao, Opalesque Asia – Seven Hong Kong SAC Capital staff left the firm while five others relocated to New York and London amidst ongoing insider trading probe against the giant hedge fund firm, Reuters reported.

Citing insider sources and regulatory filings before the Securities and Exchange Commission (SEC), the report said the departures come at a very challenging time for SAC Capital which has been struggling with $1.7bn redemption requests from investors that could downsize its $15bn hedge fund firm just as it is trying to gain a foothold in the Asian region.

This year, SAC hired three people for its Hong Kong Office and is also planning to set up shop in Japan.

Those who left the SAC office in Hong Kong were Aaron Nieman, Frank Ho, Jinchul Lee, William Montgomery, Steven Su, Miaodan Wu and Xiaojing Zhang. Jay Luo, SAC's head in Asia, left the firm last year.

Late last month, SAC veteran portfolio manager Michael Steinberg was formally charged by U.S. prosecutors with insider trading in two technology stocks. Steinberg was the most senior SAC Capital Advisors' employee to be indicted in the government's long-running probe, according to Reuters.

Meanwhile, a ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n