The acquisition of BT Alex Brown by Deutsche Bank led to the departures of Chris Howe, a director in sales and Mary Ellen O' Malley, a director in syndications. Separately, Carl Kathman, a director at Barclays Capital, resigned from the British bank and J.P. Morgan hired Tina Vanderstell. She reported to Mike Mauer, head of leveraged loan sales and trading, and was responsible for identifying relative value in the high-yield and leveraged loan markets. Vanderstell was previously on the U.S. National Rowing Team.