CNBC's Ron Insana, the veteran anchor who left the chair in February 2006 and became a senior analyst, is leaving Insana Capital Partners, the company he started upon leaving CNBC full-time.

"He plans to join S.A.C. Capital, the Stamford hedgefund company, as a managing director," reported CNBC correspondent Melissa Lee today.

"Congrat to our friend Ron," said anchor Erin Burnett. "Yes, we are biased, after all he was our co-worker."

Although it was teased Insana would appear on Closing Bell later in the day, he did not. And we hear taking the new position means he will not make any more CNBC appearances.