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February 17, 2014updated 04 Apr 2017 2:30pm

SAC Capital Advisors compliance head quits

Steven Kessler has resigned as the chief compliance officer of hedge fund firm SAC Capital Advisors, which is facing federal insider-trading charges.

By Verdict Staff

Steven Kessler has resigned as the chief compliance officer of hedge fund firm SAC Capital Advisors, which is facing federal insider-trading charges.

Kessler, who worked at SAC for nine years, is expected to step down on February 28.

John Casey, the compliance department’s chief operating officer, is expected to replace Kessler interim basis.

The resignation follows the departure of chief operating officer Sol Kumin, who departed at the end of January.

The hedge fund firm has been under investigation for nearly a decade but an indictment in July 2013 resulted in a series of legal setbacks. It agreed to pay US$1.8 billion to federal prosecutors to settle the charges.

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