Olek Gajowniczek has become the latest departure from Nomura's rates team, leaving the Japanese bank after nearly a decade to join multi-strategy hedge fund Balyasny Asset Management as a Rates Portfolio Manager based in London, according to a report by eFinancial Careers.

At Nomura, Gajowniczek was an MD and deputy head of European flow rates trading, following earlier experience as a rates trader at Morgan Stanley.

Gajowniczek's move follows the recent departure of Ali Khan, Nomura’s EMEA head of rates options, who left in late November. Industry insiders suggest Khan may also be heading to a multi-strategy hedge fund, potentially Balyasny, where he could reunite with Gajowniczek.

While Nomura bolstered its rates ranks by hiring Hemish Shah from Deutsche Bank as EMEA head of rates flow trading in March, the latter part of the year has been marked by high-profile exits, including Richard Volpe, Global Head of Rates Trading, who departed in mid-November, and Raymond Betita, who joined Nomura’s dollar rates trading team in 2023 from BNP Paribas, and left for high-frequency trading firm DRW in October.