Hedge Funds

Former SAC and Caxton risk chief to join BAM

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Barry Schachter, who left the top risk management job at SAC Capital Advisors a month ago, is rumored to soon join Balyasny Asset Management.

At Chicago-based BAM, Schachter will also take the post of head of risk management, reporting to chief executive and lead portfolio manager Dmitry Balyasny.

This is a new role at BAM, where previously Balyasny and chief operating officer Taylor O'Malley split the task of risk management. It is a long-planned addition to the $1.7 billion multi-strategy operation, which Balyasny has been steadily building since spinning out of Schonfeld Securities three years ago.

Prior to joining