Hedge fund Balyasny's new hire is a friendly PM from Verition
Balyasny Asset Management is hiring. In a presentation in August, BAM said it employed 176 "portfolio manager teams" [pods] and 912 investment professionals, up from 869 investment professionals at the end of 2024. More people have been hired since.
Get Morning Coffee ☕ in your inbox. Sign up here.
One of its latest hires is from Verition in New York. It's understood that Bernard Yiu, a portfolio manager specialising in mortgage backed securities, is joining BAM's New York team, presumably after a non-compete.
Balyasny declined to comment.
Yiu has spent most of his career in banks. Before joining Verition in 2021 he was at Nomura for nearly five years. Before he was at Nomura for five years, he was at Deutsche Bank for eight years.
Balyasny's other recent hires include some economists and four people for its macro pod in Asia. The fund can be very generous when it wants to hire senior portfolio managers and has been known to pay $50m for desirable individuals who can build teams in the past. Yiu is not thought to be receiving this amount.
Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Signal: sarahbutcher.22 Click here to fill in our anonymous form, or email editortips@efinancialcareers.com.
Bear with us if you leave a comment at the bottom of this article: comments are moderated intermittently by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. You must take sole responsibility for comments you post on this site. We will take reasonable steps to weed out anything that we consider to be offensive or inappropriate.
