Balyasny promotes star stock picker to co-lead equities

## KEY TAKEAWAYS - Balyasny Asset Management promoted portfolio manager Ilan Weiss to global co-head of equities, where he will share leadership with founder Dmitry Balyasny, reflecting his track record as one of the firm's highest-performing stock pickers. - Equities remains the firm's bright spot, delivering profitability year-to-date while fixed-income and macro strategies posted losses, contributing to the $37 billion multi-strategy fund's 0.7% return through September—significantly trailing major competitors. - The equities division, representing approximately 35% of gross capital and employing nearly 100 portfolio managers across three divisions, is critical to firm performance amid broader underperformance across other strategies. - Weiss joined Balyasny in 2022 via the firm's Anthem analyst-to-portfolio manager development program and has simultaneously served as co-head of that program while managing his own investment team. - The promotion reflects a structural shift following Balyasny's assumption of direct equities oversight three years ago when returns lagged; elevating Weiss signals confidence in delegation as the founder scales the strategy. ## DETAILED SUMMARY Balyasny Asset Management elevated portfolio manager Ilan Weiss to global co-head of equities, positioning him alongside founder Dmitry Balyasny to oversee the firm's largest and most profitable investment strategy. The promotion, announced via internal memo on Monday, acknowledges Weiss's performance as one of Balyasny's strongest equity managers. Since becoming a portfolio manager, Weiss's team has generated the highest profits among the firm's equity teams, according to the internal communication. The equities strategy has emerged as a critical performer for the $37 billion multi-strategy firm as other divisions struggle. Fixed-income and macro strategies have recorded losses through 2026, leaving the firm with a 0.7% return through September—a significant lag versus industry peers of comparable scale. Equities, which accounts for roughly 35% of gross capital and encompasses approximately 100 portfolio managers across three divisions, remains profitable and represents a substantial source of firm-wide gains. The promotion will allow Weiss to focus entirely on managing this global equities operation, according to Balyasny. This leadership move follows a three-year period during which Balyasny assumed direct oversight of the equities platform to improve returns, supported by a committee of senior stock pickers including Weiss. Weiss joined the firm in 2022 through its Anthem program, an internal initiative designed to develop analysts into portfolio managers. Before the promotion, he served concurrently as co-head of the Anthem program while running his own investment team, demonstrating leadership capability across multiple dimensions. The elevation to co-head reflects both his individual investment performance and his contributions to the firm's talent development infrastructure.