Weekly round up

Millennium taps JP Morgan exec for PM role

Alejandro Arango, previously an executive director on the Latin American rates and FX trading desk at JPMorgan in New York, has moved to join the hedge fund Millennium Management as a Portfolio Manager, departing from his role as a sell-side trader according to Bloomberg. He brings a decade of experience at JPMorgan to his new position at Millennium, where he has assumed the role of fixed income portfolio manager.

Balyasny boss goes back to school in search for best new talent

Dimitry Balyasny the head of Balyasny Asset Management, has undertaken an educational initiative to ensure that the global multi-strategy hedge fund firm can attract and develop top-tier talent, as reported by eFinancial Careers. In recent months, Balyasny has visited prestigious institutions such as MIT, NYU, and Princeton to engage with students. Balyasny already boasts a well-established graduate training program and an early career initiative designed for analysts transitioning from banks to hedge funds. This year, Balyasny has reportedly took on 120 interns, with around one third of them anticipated to receive full-time job offers.

Goldman Sachs Group veteran of some 18 years, has joined Lazard Ltd’s asset management unit

Sean Gallagher, a seasoned veteran with 18 years at Goldman Sachs Group has moved to Lazard Ltd's asset management unit to oversee a business of approximately $3 billion after winding down his hedge fund, as reported by Bloomberg.

In 2019, he founded the hedge fund Connacht Asset Management, which, according to sources familiar with them has largely liquidated its positions and is in the process of returning funds to investors. Alongside Gallagher, two other Connacht employees are also making the move to Lazard.

Eastspring Investments and Barings both cut hedge fund jobs in China

Both Eastspring Investments and Barings are reducing their China hedge fund numbers as they strive to make headway in the expansive $840 billion local market, as reported by Yahoo finance. Sources familiar with the situation disclosed in the report that Eastspring has recently reduced its onshore hedge fund team by seven positions, constituting nearly a third of its workforce in this area.