By Matthew Goldstein

SAC Capital industrials trader Charles Simonian is getting a new job–one that’s very close to Steve Cohen.

The SAC Capital founder is moving Simonian onto his own small team of traders and analysts at the $14 billion firm, say sources. Simonian will work with Chandler Bocklage in overseeing trading in industrial sector stocks for the so-called Cohen Account–a portfolio that manages between $2 billion and $3 billion in gross exposure to the market. (Gross exposure includes the value of long and short positions).

The move comes as SAC Capital ended 2011 posting an 8 percent gain.

As previously reported on Reuters’ Unstructured Finance,  the top performer at Cohen’s fund was consumer products portfolio manager Gabriel Plotkin. His team of half-dozen traders and analysts manages about $1.2 billion of the firm’s money and has generated between $150 million and $200 million in trading profits.

People familiar with SAC Capital say the other 90 some odd portfolio teams, including the Cohen account, produced smaller trading profits in 2011.

In bringing Simonian onto his team–sometimes referred to as simply “COHE” within the firm, it appears Cohen is trying to add some trading muscle to his squad.