The head of U.S. distressed-debt trading at Deutsche Bank is planning a hedge fund.
C.J. Lanktree left the German bank last week with another director on his desk, Scott Martin. The two will launch a distressed-debt hedge fund, The Wall Street Journal reports.
Money seems to be the issue: Lanktree was reportedly unhappy with his compensation at Deutsche Bank. He took over the bank's distressed-debt desk during the financial crisis.
Deutsche Bank has named Chad Valerio and Matt Siravo to take over for Lanktree and Martin.