The imminent closure of SAC Capital Adviser’s London office has been known about since October, and since then a range of competing hedge funds, including Millennium Capital, BlueCrest and, more recently, Moore Capital, have only been too happy to take on departing traders and portfolio managers.
The two remaining employees after the exodus of front office employees – Famida Daniels, partner, compliance officer and general counsel, and Michael Ferrucci, the chief executive of the London office – left last week, according to the FSA register. Here’s a breakdown of how the numbers employed have dropped since the announcement in October, courtesy of M&A boutique IMAS.
Incidentally, if you want to know a little more about Michael Ferrucci, watch the stirring video below produced by Harvard University about his time as a Lacrosse player there. He was a “great competitor” and one of the “all time great shooters in the sport” who once managed to score a goal in seven seconds. He was awarded Ivy League Player of the Year in 1998, and still sits in the university’s hall of fame.
Ex-elite sports stars famously succeed in the competitive world of the financial sector, and Lacrosse at Harvard undoubtedly fits the mold of the elitist hedge fund sector.