Four days after the U.S. government indicted SAC Capital Advisors LP, describing it as a “veritable magnet for market cheaters,” founder Steven A. Cohen walked around the firm’s Manhattan offices on Madison Avenue and spoke with employees, telling them that “bad apples” exist in any organization.
Steven A. Cohen’s SAC Capital Advisors LP told investors, employees and counterparties that it will stay open for business as the U.S. accused the $14 billion hedge-fund firm of engaging in an unprecedented insider-trading scheme over more than a decade.
Valerie Thompson went from a childhood hawking fish, fruit and vegetables in London’s run- down East End to a Eurobond star at Salomon Brothers Inc. when it was the world’s biggest trading firm. Like the successful trader she was, she got out at the top.
Goldman Sachs Group Inc. , which makes the most from equity trading of all Wall Street banks, is losing the head of a unit that invests in securities exchanges and two senior executives from its London equities division.
Steven A. Cohen may be left with less than $1 billion from outside investors, down from $6 billion at the start of the year, after today’s deadline for withdrawals from his SAC Capital Advisors LP, according to four people with knowledge of the situation.
Vibhav Nuwal was once an enthusiastic supporter of the global carbon market. The 32-year- old Indian-born banker started in September 2009 developing carbon credits to target investors in Europe and Japan for Mumbai-based private-equity fund Managing Emissions. Less than a year later, he quit his job, convinced that the United Nations’ failure to broker a global agreement to reduce greenhouse-gas emissions meant the carbon credit market was effectively dead.