Bloomberg News

SAC Capital's Head of Asia-Pacific Region Said to Resign

April 13, 2012

Jay Luo, who ran SAC Capital Advisors LP’s Asia-Pacific operations, quit the hedge fund after 10 years to pursue other opportunities, said three people with knowledge of his resignation.

Luo will leave the $13 billion hedge fund run by Steven A. Cohen after a transition period, said one of the people who asked not to be identified because the information is private. A replacement has yet to be determined, the person said.

Luo, who was a managing director based in Hong Kong, ran SAC’s Asia-Pacific operations for almost six years, according to his profile on the LinkedIn social-networking site. He previously was part of SAC’s risk-management team based in the firm’s Stamford, Connecticut-based headquarters, the person said.

SAC Capital was in talks last year to expand its offices in Hong Kong after adding employees in the city state, two people with knowledge of the matter said in June.

A spokesman for SAC declined to comment on Luo’s departure.

To contact the reporter on this story: Bei Hu in Hong Kong at bhu5@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net


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