Goldman Sachs has re-hired Simon Costello, who previously worked at the bank for over eight years as an FX options trader. Costello joins from Balyasny Asset Management, where he served as a Portfolio Manager.
The re-hiring of experienced traders like Simon Costello by Goldman Sachs signals the bank's strategy to strengthen its trading desks and capture market share. It also highlights the ongoing movement of talent from traditional banking to the hedge fund industry, driven by compensation and specialized opportunities.
Goldman Sachs has re-hired Simon Costello, a senior trader who previously spent over eight years at the bank specializing in G10 FX options. Costello joins from Balyasny Asset Management, where he served as a Portfolio Manager. His return to Goldman Sachs comes as the Wall Street bank continues to add dealmakers and pursue market share gains following a senior management reshuffle in May.
Balyasny Asset Management, a $28 billion multi-strategy hedge fund founded by Dmitry Balyasny, Taylor O’Malley, and Scott Schroeder, had hired Costello to bolster its London team. The firm employs strategies across equity long/short, fixed income, macro, commodities, multi-asset arbitrage, and systematic trading. Costello's move to Balyasny was part of a broader trend of hedge funds attracting experienced bank traders with competitive compensation packages. Balyasny is currently looking to fill over 100 positions globally.