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Balyasny hires UBS PM to revive financials team

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The firm has hired Paul Mitchell, a portfolio manager at UBS O’Connor’s multistrategy hedge fund, to head the new group.

Balyasny Asset Management has begun to rebuild its financial sector team following the departure of 11 portfolio managers and analysts from that group in March.

The firm has hired Paul Mitchell, a portfolio manager at UBS O’Connor’s multistrategy hedge fund, to head the team starting in June.

Balyasny is in talks with other analysts to fill the other open analyst positions, according to Barry Colvin, vice chairman of Balyasny. Mitchell could not be reached. UBS confirmed the departure but declined to comment.


The new team will replace a group of financial stock portfolio managers that left earlier this