Hedge fund Balyasny Asset Management has strengthened its London team with the hire of Simon Costello, a former Goldman Sachs FX options trader, as a Portfolio Manager, according to a report by Financial News London.

Costello spent over eight years at Goldman Sachs, specialising in G10 FX options, including the Japanese yen and Australian dollar. His move to Balyasny reflects a broader trend of hedge funds attracting experienced bank traders amid rising compensation packages.

Founded in 2001 by Dmitry Balyasny, Taylor O’Malley, and Scott Schroeder, Balyasny Asset Management is a $28bn multi-strategy hedge fund running strategies across equity long/short, fixed income and macro, commodities, multi-asset arbitrage, and systematic trading.

Costello’s hire follows a series of high-profile additions at Balyasny in 2025, including former Deutsche Bank basis trader Jamie Mansell, Citadel’s David Brodsky, and former 1020 Capital Management CIO Benoit Pedrono. Last year, the firm also brought in ex-Goldman Sachs director Aditya Singh as a macro portfolio manager.

Balyasny continues to expand globally, and is currently seeking to fill over 100 positions, ranging from quantitative researchers in Dubai and New York to analysts in Hong Kong and Singapore, as it strengthens its multi-strategy platform.