Stripe's new engineer left hedge fund Balyasny (and London) to join
Payments giant Stripe has been able to attract engineers from banks, fintech and tech firms, but hedge fund technologists have seemed harder to come by. One of its first big hires of the year, however, comes from one of the major multi-strategy hedge funds.
Bogdan Cozmaciuc joins Stripe as from Balyasny, where he was most recently a staff software engineer. While at the hedge fund, he not only designed trading applications, but also worked on "a state-of-the-art NLP platform, which aims to extract alpha from various text based datasets."
Hedge funds have very few competitors when it comes to pay but, in the fintech space, Stripe is one of them. On average, Stripe paid its software engineers $370k in 2023. Compared to Balyasny in London, however, this may be paltry. It was the second-highest paying hedge fund in London in 2022, as staff earned £1m ($1.2m) on average. That includes portfolio managers as well as software engineers, however.
Cozamciuc joined Balyasny two years ago from another hedge fund, Man Group, where he worked for six years. He initially joined as a quant developer but transitioned to an engineering role after four years.
His early career was spent at investment bank Morgan Stanley. He joined as a graduate technology analyst after interning there, and transitioned into algorithmic trading after just four months working there.
Although Cozmaciuc spent all of his career thus far in London, the new role sees him move to Bucharest, Romania, where Stripe has an office and his previous employers do not.
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