Dmitry Balyasny's hedge fund has cut its 10-person Synthesis team, which uses a mix of quant and fundamental stock-picking techniques and ran a $2 billion book of business, sources tell Business Insider. Synthesis team leader Mike Daylamani is among the cuts - he joined Balyasny in 2018 after spending nearly a decade working for Steve Cohen. Sources say the cuts are unrelated to a strategy revamp at the firm's quant unit — which lost its head, Ulrich Brandt-Pollmann, last week. Click here for more BI Prime stories.