PIMCO appoints ex-Goldman Sachs and Balyasny exec as PM

Damien Courvalin, a former Goldman Sachs commodities executive, has recently joined PIMCO as a commodities portfolio manager, according to a report by eFinancial Careers. Courvalin previously spent three years at Balyasny Asset Management, where he led its Commodities Intelligence Group. He confirmed his return to a large institutional investment firm in September when he took the position at PIMCO.

Courvalin's tenure at PIMCO consists of leading the commodities portfolio management team. Before his time at Balyasny, Courvalin spent 16 years at Goldman Sachs, where he rose to the position of managing director and made a significant impact within the bank's commodities business. His departure from Balyasny coincided with the exits of two other former Goldman Sachs managing directors, Max Iakovlev and Toby Shephard.

The three exits occurred after a 3.5% loss for Balyasny during the week ending March 6th, although there was no indication that the departures were directly related to that performance. Dan Deighton, another ex-Goldman Sachs managing director and risk manager, continues to lead Balyasny's commodities operation.