Deutsche Bank is rebuilding its US high-yield trading franchise with the appointment of former Walleye Capital portfolio manager Travis McCormack, according to a report by eFinancial Careers citing unnamed market sources.
McCormack, who spent 13 years at Citi before joining Walleye in August 2024, is set to take over the German bank’s high yield desk later this month. He departs Walleye following the hedge fund’s May decision to shut down its credit and commodities teams to refocus on volatility, quant and long-short equity strategies.
McCormack's hire follows a string of recent additions to Deutsche’s high yield unit, including Richard Purdy from Barclays, Peter Yune from Bank of America, and Jackson Merchant from Mizuho.
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