Deutsche Bank has lost three from its high-yield sales and trading desk. Scott O'Callaghan, managing director and head of high-yield sales, and Joe Faughnan, high-yield trader, are heading to Banc of America Securities, while trader Brian McGrath is retiring, according to market participants. O'Callaghan and McGrath, reached on their cell phones, declined comment. Faughnan did not return calls. Steve Renehan, head of high-yield sales and trading, and spokesmen at Deutsche did not return calls by press time. Calls to BofA were referred to Louise Hennessy, spokeswoman. She declined comment.
Deutsche Bank Loses High-Yield Trio