BlueCrest Trader Gets Fired for Sharing Information with Steve Cohen's Firm
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BlueCrest Capital Management fired one of its money managers last year after asserting he improperly divulged information about his stock trading to an employee at Steven Cohen’s investment firm, according to three people familiar with the circumstances.
Nicholas O’Grady, 36, was dismissed six months into a stint at the hedge fund after sharing information with Point72 Asset Management’s David J. Blanc, 38, in instant messages that BlueCrest deemed inappropriate, the people said. O’Grady, who says he was fired without cause, sued BlueCrest last month over an unpaid bonus. He found a new job at a firm that said it conducted an extensive review of his termination and found no reasons for concern.