Reports from the Wall Street confirm that Phil Villhauer, known as the top trader has decided to call it a career at the Wall Street. The deposed hedge fund manager leaves some few months before Mr. Cohen makes a return to the place he left nine months ago for a job in Washington. The 52-year-old Phil Villhauer has been with SAC Capital Advisors hedge fund for the last 15 years having joined the company in 2002. He became the global head of trading for the company when his boss was barred from taking outside money by the federal government. This arose from a settlement that the firm made with the federal officials. As part of an agreement not to press charges against SAC Capital Advisors, prosecutors asked the company not to take outside money. Mr. Villhauer has also been the head of trading for the Point72 Asset Management where he has invested $11 billion that is part of Mr. Cohen’s personal money. Mr. Cohen and Point72 through their president wrote an internal email saying that Phil Villhauer has been part of the company qualifying to be family to them. The president further said that he was sad informing everyone that Phil Villhauer had decided to retire at a young age.
When requested to comment on the issue, Mr. Villhauer declined to comment. At the moment, SAC manages over $14 billion in assets. This makes it one of the most successful hedge funds in the Wall Street. At the same time, the firm is known to charge the highest fees in the industry. The company, however, faced some insider trading charges back in 2013 and was eventually converted to a family office. Up to date, the firm still specializes in trading the personal fortune of the family. One person who cannot manage money from outside investors is Mr. Cohen. With the restriction coming to an end this year, Mr. Cohen has said that he will reopen a new hedge fund. He has made the necessary arrangements by reaching out to potential investors and at the same time sending his representatives to potential investors. The retiring man was little known in the Wall Street until he appeared as a witness against Mathew Martoma. It was revealed that through the illegal trades made by the former executives, the firm was able to make profits worth $285. At the same time, the firm avoided making substantial losses.