Ex-Wife Wants 'Substantial' Part Of Hedgie's $13bn Empire

The New York Post reports that Patricia Cohen, the ex-wife of SAC Capital founder Steven, has filed a new lawsuit against her former spouse (who she divorced some 20 years ago), claiming that she is due 'a substantial, if not controlling interest' in his $13bn empire.

Mrs Cohen is now claiming that her ex-husband started his hedge fund empire using almost $1m she earned in a real estate deal in the 1980s. The lawsuit also claims that Cohen hid his true wealth at the time the divorce settlement was signed off.

In the meantime, Les Echos reports that Societe Generale is to hire up to 500 people into its global markets unit over the next 18 months.

And The New York Times DealBook column reports that MF Global's new Chairman & CEO, Jon Corzine, is thought to be on a base salary of $1.5m, and an on-target bonus of $3m. Corzine is also believed to have got a $1.5m signing-on bonus.

The Guardian reports that Michael McLintock, the head of M & G Investments, bagged $2.58m in cash and stock for his work in 2009, and also received $3.8m in stock, which vested as a result of a 3-year incentive plan.

Finally, The Times reports that hedge fund BlueCrest Capital, which employs 350 staff, has relocated to Guernsey for tax purposes. Financial firms are said to pay an estimated corporation tax of some 10%, in Guernsey, compared to 28% in the UK. The firm is also opening a new office in Geneva in order to give traders the option to move and avoid excessive UK personal taxation.

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