A former recruiter at SAC Capital Advisors is now doing the same job at hedge fund firm Paloma Partners.
Bloomberg reported that Michael Liebowitz, who oversaw the recruitment of quantitative traders at Steve Cohen’s SAC, will be in charge of hiring new trading teams and money managers at Paloma.
Liebowitz is the latest SAC employee to depart the firm as it transitions into a family office following its guilty plea to insider trading last year. The Connecticut-based hedge fund was charged with wire fraud and four counts of securities fraud for allegedly allowing insider trading to go unchecked from 1999 through at least 2010.
Founded by Donald Sussman, Connecticut-based Paloma manages approximately $2.2 billion in assets.