Steven Cohen starts succession planning at SAC Capital
|June 14th, 2010||
|Steven A. Cohen has altered the management structure of SAC Capital Advisors, which manages more than $12 billion in assets, by promoting four current senior executives to new portfolio management roles. In their new roles, the four executives will report directly to Mr. Cohen and help him manage the $2 billion portfolio that he oversees.|
According to an investor letter, the appointments will enable Steven Cohen to focus his investment efforts and empower him to dedicate more time to other crucial SAC initiatives, such as risk management and employee development.
The four sector heads, who have been assigned coverage of energy, technology, media and health care portfolios, will also continue to manage their existing portfolios at SAC Capital.
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