Lehman Brothers is boosting its distressed desk by shifting par loan trader John Gramins to trade stressed and distressed credits. Gramins will work alongside distressed trader Peter Schellbach. Lehman is anticipating more distressed activity, a source familiar with the situation noted. Par trading activities will now rest with Jason Moynihan, assisted by junior par trader Alex Stromberg, who formerly worked within loan capital markets. Both Gramins and Moynihan have been at Lehman for eight years. Schellbach joined Lehman last March from Goldman Sachs. Gramins and Schellbach declined comment.