Hedge funds Eisler & Balyasny parted company with some people

Although big hedge funds made money in April, it was not an easy month. Now that the dust has settled, people are leaving for reasons not always in their own control. 

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It's understood that intellectually honest hedge fund, Eisler Capital Management, has cut jobs across the front, middle and back office. Around 45 people are thought to have been let go, largely in the technology infrastructure team. However, the cuts also included five portfolio managers, representing 3% of the money managed by Eisler. Offices in Edinburgh, Jersey and Florida were closed and senior infrastructure professionals are understood to be leaving.

Eisler declined to comment. Bloomberg reported that Eisler, which is down 2% for the year through to April, intends to leverage technology to fill the gaps left by the departed tech staff, and that Eisler is trying to cut its pass through costs to 2022 levels. The fund has a new tech platform called Photon and is seemingly letting go of the tech staff who constructed it now that it's finished. 

Last year, Eisler moved to a large new office in London. Bloomberg says it's assets under management are declining. They were $4bn at the start of the year but will likely be $3bn by the year end. 

Balyasny Asset Management is also understood to have experienced exits, but not due to a substantial restructuring. Huw Roberts, formerly a senior rates trader at Bank of America, Morgan Stanley and JPMorgan is understood to have left of his own volition and may be joining Tudor. The FCA Register shows Roberts leaving BAM in March, before the turbulence of April. Brian Wong a high frequency trader at BAM in Dubai is also thought to have gone. 

Balyasny declined to comment.

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