MOVES-Balyasny, Citadel hire portfolio managers from each other, sources say

By Carolina Mandl

NEW YORK, March 21 (Reuters) - Hedge funds Citadel and Balyasny Asset Management have hired equity portfolio managers from each other, heating up hiring competition as bonus season wraps up and traders start to move around, two sources familiar with the matter said on Friday.

Balyasny has hired Citadel's David Brodsky as an equity healthcare portfolio manager, starting in 2027 after he sits out a non-compete period, the sources said. With over 20 years of experience, he had been with Citadel's Surveyor Capital business since September 2020, according to his LinkedIn profile.

Dmitry Balyasny's multi-strategy hedge fund has also hired Surveyor's biotech investor Isai Peimer, one of the sources added. He started working at Balyasny this month as a portfolio manager, his LinkedIn profile showed, after over one year on a non-compete agreement.

Citadel's former head of research for its convertible arbitrage team, Johnny Kang, also joined Balyasny this month as a portfolio manager, according to his LinkedIn.

Meanwhile, Ken Griffin's Citadel hired this week Jeremy Simon, a portfolio manager from Balyasny who was part of its Anthem program focused on high-performing senior analysts. He had been with Balyasny since January 2024, his LinkedIn profile showed.

Simon will join Citadel's Ashler Capital business in 2026 as an equity portfolio manager focused on technology, media and telecommunications.

The talent war among hedge funds usually heats up at this time of year after portfolio managers receive their bonuses, with the 12 weeks between April and June being the busiest for moves, according to John Pierson, CEO at recruiting firm P2 Investments.

Despite the losses hedge funds posted this month amid a selloff triggered by U.S. tariff uncertainty, this hiring season is expected to be busy.

"With all that is going on in the world, hedge funds will keep hiring, the musical chairs will continue," Pierson said.