Five former Bankers Trust Corp. executives who specialized in high-yield debt resigned from Deutsche Bank last week.
Gone are Peter J. Nolan, a managing director in loan syndications in New York; Ian McCarthy, the head of leveraged loan syndications in London; and three other loan executives-Timothy Cottrell, Timothy Collins, and Suzy Walls.
The departures are the latest in what is expected to be a string of departures as Deutsche Bank consolidates its $10.1 billion acquisition of Bankers Trust. Many bankers were expected to leave Deutsche Bank after bonuses were paid June 4, the date the deal was completed. Deutsche Bank declined to comment on the departures but confirmed the executives had left.
Mr. Nolan has joined Chase Manhattan Corp. Mr. Collins has joined J.P. Morgan & Co. as a managing director in the high-yield syndicate group.