With rival SAC Capital down and seemingly on its way out, Chicago-based Balyasny Asset Management is planning big things. The $3.3 billion hedge fund, once a poaching ground for SAC Capital, is reportedly looking to add talent across the board.
According to a quarterly letter seen by ValueWalk, Balyasny plans to reopen its funds to new capital beginning in the first quarter of 2014. In doing so, the hedge fund will need a deeper roster. Areas of need include Asia, commodities and European equities, macro, telecommunication media and technology, and healthcare. The firm already poached two former SAC employees earlier this year and is said to be in conversations with others, according to ValueWalk.
While based in Chicago, Balyasny also maintains office in New York, Hong Kong and San Francisco. Currently, the firm’s career site shows only two openings – an Asian financial analyst based out of Hong Kong and an event-driven analyst in New York – but hedge funds aren’t all that big on advertising their high-level needs. Run your resume by HR if you’re interested.
Balyasny didn’t immediately respond to requests for comment on any potential hiring plans.
Interview Tips Straight from the Horse’s Mouth (eFinancialCareers)
Three banks – Goldman Sachs, J.P. Morgan and Morgan Stanley – have renovated their career sites to offer some specific interview advice to prospective candidates. Here’s a sampling of some of the most pertinent tips.
Crafty Loophole (WSJ)
European banks are mulling a new scheme to enable them to circumvent incoming bonus caps. Under the plan, top bankers would receive "role-based" monthly allowances that aren’t directly linked to their performance.
Where Costs are Skyrocketing (eFinancialCareers)
Our research reveals that U.S. banks have mostly done a good job of managing costs in the third quarter and throughout 2013 to date. European banks mostly haven’t. Several Euro firms – and their employees – are now in the danger zone.
Calling on all Scrooge McDucks (Business Insider)
Fresh off yelling at Carl Icahn for his me-first ways, Pimco founder Bill Gross is calling on the 1% to do what’s right: agree to pay higher taxes. "Having gotten rich at the expense of labor, the guilt sets in and I begin to feel sorry for the less well-off," he wrote in a recent note.
Bad Bonus Season (Bloomberg)
“In general, people are expecting to get paid more than last year, but that’s not going to be the case.” Expect non-revenue generators and middling front office employees to see their bonuses hijacked by rock star bankers.
Guess They’re Closed (FIN Alternatives)
Hedge fund RG Investment Capital has reportedly shut its doors. We know this because the firm’s founders and most of its staff are currently working at Nomura.
Obnoxious Bars (Business Insider)
If you’re going out to celebrate Halloween tonight, steer clear of these bars. They ranked highest on Wall Street’s “obnoxious meter.” Unless of course you fit the mold, in which case enjoy!
Buzz Around the Office
Bitcoin(s) (Daily Dot)
A Norwegian student bought $26 worth of Botcoin in 2009, then forgot about it. He logged into his account last month to find his investment had grown to nearly $890,000. Stuff like this hardly ever happens to me.
List of the Day: Updated Resume
Most people only update their resume when they’ve decided to look for a new job. Here’s why you should be doing it no matter what.
- In case a promotion becomes available.
- In case you are called on as an expert.
- In case a great job comes out of nowhere.
(Source: The Daily Muse)