Deutsche Bank has made two hires in its leveraged finance team after poaching Simon Mullaly, a distressed debt specialist, from Lehman Brothers and John Eydenberg, a high-yield banker, from Morgan Stanley.

Mullaly is to head Deutsche's distressed debt trading team, part of the distressed products group which is headed by Martin Dent. He joins after two years at Lehman, which hired him from Goldman Sachs to grow its high-yield trading team.