April 11, 2016 / 5:20 PM / 4 years ago

MOVES-Six ex-SAC employees return to Cohen's Point72

NEW YORK, April 11 (Reuters) - Six ex-SAC Capital Advisors employees have returned to their former employer, billionaire investor Steven Cohen, as portfolio managers at his new investment firm Point72 Asset Management.

Eugene Lipovetsky, Ladd Fritz, Ray Shu, Arjun Menon, Israa Al Bayaa and Stanislas de Caumont have rejoined Point72 after leaving in 2013-2014 when SAC shut down after paying a $1.8 billion fine in an insider-trading settlement with U.S. regulators.

“The interest by former employees in returning to the firm, particularly in London and Asia, reflects the strength of our franchise and the excitement on executing against the firm’s mission and values,” spokesman Mark Herr said on Monday.

Shu is based in Hong Kong while Menon, Al Bayaa and de Caumont are based in London. Lipovetsky and Fritz are in New York, Herr said.

Point72 Asset Management succeeded SAC Capital, Cohen’s hedge fund firm.

The new firm is a family office - a private wealth advisory firm for prosperous families - that manages about $11 billion. (Reporting By Jennifer Ablan; Editing by Fiona Ortiz)

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