SAC Capital Advisors' portfolio managers and analysts in London have held discussions with rival hedge funds including Moore Capital Management about moving to those firms as SAC prepares to close its office here, according to people familiar with the matter.

SAC's abrupt move last month to shutter its London office by year-end, as the US hedge-fund giant retrenches following a record insider-trading settlement, has spurred a flurry of discussions between SAC traders, analysts and portfolio managers and their rivals at other firms, according to people close to firms involved. Besides Moore, SAC employees have had talks about potential jobs with people at Millennium Management, BlueCrest Capital Management and Balyasny Asset Management, according to people close to discussions with those firms.