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Hedge Fund Balyasny Pull Goldman & JPMorgan Technologists; Paying $365K 

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JPMorgan might want to keep away its technologists, who are complaining of their comparatively poor pay, from Mike Grimaldi.

Grimaldi joined JPMorgan as the former head of technology in 2017 and left in 2021. Before that, he worked at Deutsche Bank. In 21 years of his career, Grimaldi spent most of his time at Goldman Sachs. Currently, Grimaldi is busy hiring at hedge fund Balyasny Capital Management.

Micheale Taylor is the most recent recruit of Grimaldi. Taylor was the former head of markets collateral technology at JPMorgan. The two used to work together before Grimaldi left his position. Last October, Taylor quit her job and joined the risk and pricing white-label platform Beacon. Now, Taylor heads the middle and back-office technology.

Grimaldi has not only hired Taylor, George Tsimperopoulos from Goldman Sachs is another person whom Grimaldi recruited in April. George is the head of execution services technology for the fund. 

It’s reportedly been adding both analysts and technologists to support investment decision-making.

The hiring of recruits comes as Balyasny is building its team. As per the recent Bloomberg reports, the company has $15.7bn in assets under management, an increase from $11bn in early 2018. The number of staff was 1,100, of which only 470 are investment professionals. Recently, it has been hiring both technologists and analysts to support investment decision-making.

Grimaldi is also responsible for adding technologists to the team as CIO. Currently, twenty-three of the 81 positions are open for technology staff, including C++, C#, and Python engineers and quant developers.

As of now, most of the technologists at Balyasny have migrated from other hedge funds; however, as Taylor and Tsimperopoulos settle in, things could take a sharp turn. Balyasny seems to be more generous than investment banks as its entry-level technologists have around $125k in New York, reveals Levelsfyi. However, front-end developers are earning $350k having five years of experience. A full-stack analyst with one year of experience in Jersey City claims to be on a mere $60k all-in at JPMorgan.

Nancy J. Allen
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