--Rob McGlinchey
Simon Mullaly, an ex-head of distressed trading at Deutsche Bank in London, is working on launching a credit investment boutique along with Lars Lemonius, an ex-Morgan Stanley portfolio manager in London.
The firm is called Yorvik Partners, according to Company House filings. It has yet to be approved by the Financial Services Authority, but the plan is to offer brokerage services and also launch a fund that will invest in distressed debt, according to a market watcher. The pair is looking to add credit derivative sales members to their team.
Most recently, Mullaly worked for De Putron Fund Management in London as a portfolio manager, and left the firm in November. Lemonius left Morgan Stanley in June 2008. It could not be immediately determined why both Mullaly and Lemonius left their respective roles. The pair are known in the market as “very high performers” and “leaders in distressed debt in the City,” according to one observer.
Mullaly and Lemonius were unavailable for comment.
This article was originally published in Alternative Investment News.
