Like the breakup of a great ball team, the former Bankers Trust Corp. syndicated lending group is being dismantled. And competitors such as Chase Manhattan Corp., Goldman, Sachs & Co. and J.P. Morgan & Co. are hiring away its stars.

Robert Wagner is the most recent defector. He left the combined Deutsche Bank-Bankers Trust this month to join Goldman Sachs as a managing director. He will report to Edward C. Forst, Goldman's co-head of global bank loans. Mr. Forst, a former colleague of Mr. Wagner's at Bankers Trust, left in 1994 to join Goldman.

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