Bill Hughes, a managing director in Deutsche Bank's senior debt capital markets group, left the bank for Lehman Brothers last week. Hughes managed deals in the telecommunications and energy sectors while at Deutsche Bank and is believed to be focusing on the same sectors at Lehman. Hughes will be reporting to Steve Sterling, a managing director at Lehman. A Deutsche Bank spokesman confirmed Hughes' departure, noting the firm is looking at internal and external replacements, while a Lehman spokeswoman did not return calls. Hughes could not be reached by press time.