Stamford Advocate – Four days after the U.S. government indicted SAC Capital Advisors, describing it as a “veritable magnet for market cheaters,” founder Steven A. Cohen, of Greenwich, walked around the firm’s Manhattan offices on Madison Avenue and spoke with employees, telling them that “bad apples” exist in any organization.
As Cohen, 57, sought to assure employees that business will continue as usual at the 21-year-old hedge-fund firm, many of his portfolio managers, analysts and traders were already reaching out to friends, hedge funds and recruiters in the hope of landing jobs next year when they expect Stamford-based SAC will need far fewer employees, according to people who have spoken to them.
