Bloomberg News reports that Schoell, a Deutsche Bank director who resigned on Wednesday, will trade high-yield and distressed bonds and loans at the hedge fund, said the people, who asked not to be identified discussing personnel. King Street had about $19.3bn of assets as of January 1, according to a regulatory filing.
In the meantime, Bloomberg also reports that Jefferies, the investment bank owned by Leucadia National, hired Goldman Sachs’ Joe Femenia to run distressed-debt trading, people familiar with the move said.
Femenia, 39, a graduate of the U.S. Naval Academy and former Navy SEAL, will take on many of the duties of former distressed-debt head Drew Doscher, who left Jefferies in December, according to the people, who asked not to be identified discussing personnel.