Morgan Stanley has hired a top trader away from Deutsche Bank in distressed credit — an area primed for a boom as corporate debt gets crushed
Matthew Weinstein has resigned from the German lender and is joining Morgan Stanley as the head of North American distressed trading, according to people familiar with the matter.
Distressed credit trading is primed for renewed activity and importance as a trillions of corporate debt comes under pressure from the economic fallout of the coronavirus pandemic.Morgan Stanley has a hired a top trader from Deutsche Bank's distressed-debt operation, a bread-and-butter businesses for the German lender that will gain renewed importance as distressed debt balloons amid the economic fallout from the coronavirus.
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