Hedge fund Balyasny hired Bank of America's head of FICC technology
Bank of America's fixed income, commodities and currencies (FICC) division had a respectable 7.9% rise in revenues last year. Despite this, and despite adding markets technology staff over the past year, one of the bank's most senior engineers has now left for a hedge fund.
Dhairyasheel Deshmukh, global head of FICC technology, has joined Balyasny. His role there is head of investment technology, reporting to CTO Mike Grimaldi. Deshmukh's LinkedIn suggests he'll be running front-office teams for all its divisions bar systematic: equities, multi-asset arbitrage, commodities and fixed income & macro. Deshmukh joined BofA in 2010 as an MD working on its risk management platform Quartz.
Balyasny's equities division is its largest, employing 60+ PMs including Dmitry Balyasny himself. Deshmukh's appointment is a little unusual, then, as he didn't appear to work on equities technology while at BofA. He was briefly co-head of global markets technology architecture, which may have included work on equities. Prior to joining the bank, however, he was an executive director and global head of equities algorithmic trading technology at JPMorgan.
Balyasny is looking to build on a good year, after it made 16.7% returns in 2025. It performed better than the likes of Two Sigma and Schonfeld, but was beaten by Qube, D.E. Shaw and others.
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