Deutsche Bank Distressed Trader Schoell Said to Join King Street

Deutsche Bank AG’s Michael Schoell, a senior trader of distressed debt, has left to join hedge-fund firm King Street Capital Management, people familiar with the move said.

Schoell, a Deutsche Bank director who resigned on Wednesday, will trade high-yield and distressed bonds and loans at the New York-based hedge fund, said the people, who asked not to be identified discussing personnel. King Street had about $19.3 billion of assets as of Jan. 1, according to a regulatory filing.

Abernathy MacGregor Group’s Shawn Pattison, a spokesman for King Street, declined to comment, as did Amanda Williams at Frankfurt-based Deutsche Bank.

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