Castle Fund Manager Mewani transferred to Balyasny despite previously losing 50 million US dollars.

Hedge fund giant Castle Investment sees one of its fund managers, Ricky Mewani, jump ship to Balyasny Asset Management. An unnamed source revealed that Castle's healthcare stock fund manager, Ricky Mewani, will be leaving the company to join Balyasny's multi-strategy hedge fund, after Mewani's team suffered losses of around $50 million. Mewani had worked at Castle for nine years, and his former colleague David Brodsky had previously left for Balyasny. A spokesperson for Castle said the company is very disappointed with Ricky's decision to leave. The fierce talent war among large hedge funds has benefited several fund managers, with Mewani being just one example. Despite some record-breaking losses in the past, individuals are still being poached by competitors, with some even being highly sought after, as companies hope they can reproduce their previous stellar performances in a new environment.