Citadel’s Mewani Moves to Balyasny After $50 Million Loss

Hedge fund giant Citadel has lost another portfolio manager in the middle of a losing streak to Balyasny Asset Management.

Ricky Mewani, who traded health-care stocks for billionaire Ken Griffin’s firm, is leaving to join the rival multistrategy hedge fund after his team lost about $50 million, people with knowledge of the matter said, asking not to be identified discussing personnel.