Steve Cohen Giving Point72 That New SAC SmellBy
Four years ago, amidst the, um, unpleasantness, Steve Cohen had to make quite a show of not running a “vertible magnet for market cheaters”/linguistic innovator in the field of insider trading. So he went and hired a McKinsey guy to head things, a new human resources guy to sift the black edge out of the applicant pool and an advisory board for good measure.
Well, no one’s heard from that advisory board since the initial press release. And the McKinsey guy’s gone, either because in addition to being the architect of an ethical work environment he was also the architect of a hostile one, or because now that Steve Cohen’s a hedge fund manager again, he doesn’t need a babysitter. And that HR guy? Yea, he’s “decided to retire.” And in case you hadn’t gotten the message that the “review of Point72’s culture” means “forget the last four years happened,” there’s this:
Leave a Reply
You must be logged in to post a comment.