Hedge Funds

SAC hires Credit Suisse FX pro


SAC Capital Advisors, the Stamford, Conn.-based $9.5 billion multistrategy firm, has hired David Newman as managing director in charge of currency trading, a new position.

Newman, who most recently served as head of global foreign exchange sales and structuring at Credit Suisse, will focus on foreign exchange trading strategies in his role at SAC.

Separately, and earlier this summer, SAC created a new private debt capital team and hired Mark Gudis, a managing director of the Blackstone Group's corporate debt funds, to oversee the new group. That unit provides debt financing commitments and minority equity co-investment for leveraged