Daily News: July 9, 2014

Citigroup Distressed-Debt Head Said to Depart

Bloomberg reported, citing two people with knowledge of the matter, that Scott Balkan, head of distressed debt at Citigroup, is leaving to join hedge fund Silver Point Capital.

According to Bloomberg , citing one of the people, Balkan will join Silver Point as a trader.

Bloomberg noted that Citigroup has been losing traders this year to hedge funds, the destination for those on Wall Street who want to make the biggest bets and earn the most money.

To read the entire Bloomberg article, click