Balyasny Asset Management has secured a high-profile hire in the Asian macro space, luring seasoned yen rates portfolio manager Ron Choy from BlueCrest Capital Management with a compensation package reportedly worth around $30m, according to a report by Bloomberg.
The report cites unnamed sources amiliar with the matter as confirming that Choy, who spent nearly eight years at BlueCrest, is slated to join Balyasny in October and will report to Jay Hew, head of Asia macro.
The move underscores Balyasny’s push to deepen its presence in Japanese macro trading as volatility in the local bond market creates both challenges and opportunity for hedge funds.
Choy’s multi-million-dollar package is expected to include deferred compensation buyouts and other make-whole arrangements — a common tactic as firms compete to attract experienced macro talent.
Choy brings deep expertise in yen rates, having led trading in the space during a 13-year tenure at Credit Suisse prior to joining BlueCrest.
