Kevin O’Connor, the former top federal prosecutor in Connecticut, made the point that he didn’t become general counsel of Point72 Asset Management LP, formerly SAC Capital Advisors LP, to be “window dressing.”
In 2013, hedge fund SAC Capital pleaded guilty to insider trading and agreed to pay $1.8 billion to resolve criminal and civil probes, in what the U.S. Justice Department said was the largest insider trading settlement in history. Last year, SAC, founded by billionaire Steven Cohen, changed its name to Point72 Asset Management and stopped managing money for outside clients, concentrating on managing $11 billion in assets, mostly Cohen’s fortune. Point72 has about 900 employees.
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