SAC to Close London Office Amid U.S. Insider Probe

Oct. 22 (Bloomberg) -- SAC Capital Advisors LP plans to shut down its London office as the $14 billion hedge-fund firm founded by Steven A. Cohen scales back in the face of insider-trading allegations by U.S. prosecutors. SAC, headquartered in Stamford, Connecticut, will close down the U.K. office by the end of the year, President Tom Conheeney wrote in a memo sent to employees today. The firm this week cut six investment professionals in the U.S., Conheeney wrote. Katherine Burton reports on Bloomberg Television's "Market Makers."

Was the DNC Hack Preventable?
34:37 - Eric O'Neill, Carbon Black's national security strategist, discusses how to respond to government hacks with Bloomberg's Emily Chang on "Bloomberg West." (Source: Bloomberg)
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