Schachter quits Caxton for Sac Capital Advisors

Barry Schachter, a prominent name in the financial engineering industry, has left his position as head of enterprise-wide risk management at hedge fund Caxton Corporation to work for rival Sac Capital Advisors.

Schachter told RiskNews that while Sac is a smaller hedge fund company – it has $4 billion of assets under management against Caxton’s $9 billion – he would have a more senior management role there, as well as heading risk management. But he declined to comment further.

Schachter has been a contributor to Risk and a number of other publications during the past few years.

Sac Capital Advisors is a multi-strategy hedge fund company that primarily focuses on long/short equity strategies.

Caxton Corporation is now seeking a replacement for Schachter, who starts work for Sac Capital Advisors on Monday.