Hedge Funds

DB prime brokerage chief to depart for SAC


Jim Rowen, the global head of prime services at Deutsche Bank, is leaving the firm after 10 years to join SAC Advisors. He is said to be joining Steve Cohen's $6 billion hedge fund shop firm to work within the CFO silo. An announcement on Rowen's replacement at Deutsche Bank is expected early next week.

Rowen's hire comes just as the Stamford, Conn.-based firm lured executive Craig Elkind away from Satellite Asset Management. Elkind is building a new team for SAC that will focus on investments in shares of financial-services companies. Satellite responded to the news of Elkind's departure