Balyasny Asset Management’s Asia-Pacific operations are set for leadership changes with Chief Operating Officer Eddie Lo departing the $33bn hedge fund after less than two years in the role, according to a report by Bloomberg citing unnamed sources familiar with the matter.

Lo joined the Chicago-based firm in mid-2024, having previously served as a regional treasurer at Citadel, where he oversaw parts of the $69bn hedge fund’s operations in Asia. Tom Chen, head of equity finance for the region, is also leaving; he joined Balyasny in 2022. Both executives are reportedly moving on to new opportunities.

A Balyasny spokesperson and Chen reportedly declined to comment, while Lo did not respond to Bloomberg's requests for comment.

Balyasny’s Asia-Pacific business has expanded rapidly over the past two decades, with regional revenue jumping 82% in 2025 from the previous year, according to Kevin Byrne, the firm’s New York-based COO. Overall assets under management at Balyasny have grown by 57% since late 2023, rebounding from a period marked by softer returns, investor redemptions, and staff reductions. The firm posted a 17% return in 2025, outperforming peers including Citadel and Millennium Management.