Balyasny names Ilan Weiss global co-head of equities

Balyasny Asset Management promoted Ilan Weiss to global co-head of equities, placing one of its top stock pickers alongside founder Dmitry Balyasny to run the firm’s largest investment strategy.

An internal memo on Monday noted Weiss will lead the equities business with Balyasny and will be able to focus full time on the global equities operation. The memo highlighted that Weiss’s team has generated the highest profits among the firm’s equity teams since he became a portfolio manager.

Equities have produced gains this year while the firm’s fixed-income and macro businesses recorded losses, according to a person familiar with the performance. Those losses contributed to a firm-wide return of 0.7% through September and left Balyasny behind several of its largest multi-strategy peers.

Balyasny manages about $37 billion in assets. Equities represent roughly 35% of the firm’s gross capital and the equities platform includes nearly 100 portfolio managers across three divisions.

Weiss joined Balyasny in 2022 through the Anthem programme, which is designed to promote analysts into portfolio manager roles. He has been co-head of that programme while running his own investment team.

Three years ago Dmitry Balyasny took direct responsibility for the equities investment platform and created a committee of senior stock pickers to support the business; Weiss served on that committee. The promotion formalizes Weiss’s expanded leadership responsibilities within the equities unit.

The memo identified the team’s performance as a key factor in the elevation to co-head.