It’s ok. Damien Courvalin is safe. He is not forever out of the market after a foray into a hedge fund. He is at PIMCO
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Courvalin posted his arrival at PIMCO on his LinkedIn account, saying that he arrived in September and will be a commodities portfolio manager there.Â
Courvalin was last seen at Balyasny Asset Management (BAM), where he worked for three years and ran a ‘Commodities Intelligence Group’ before leaving unexpectedly in March. Courvalin’s BAM departure was unexpected because he previously spent 16 years at Goldman Sachs, where he was a managing director (MD) and something of a star.Â
Courvalin’s departure from BAM followed that of another ex-Goldman MD and energy trader Max Iakovlev, and his colleague Toby Shephard. It also followed 3.5% loss during the week to March 6th. The departures may have been unrelated to the loss. The whereabouts of Iakovlev and Shephard are unknown.Â
Balyasny likes Goldman Sachs commodities MDs and also employs Dan Deighton, a former Goldman Sachs MD and risk manager, who runs the whole commodities business.
When Goldman commodities MDs contemplate moving to the buyside in the future, they can therefore choose Deighton at BAM or Courvalin at PIMCO. Or they could just join Anthony Dewell at Millennium.
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