Two former heads of Deutsche Bank’s Asian distressed debt group have launched their own boutique investment bank, the group announced. SC Lowy Financial Services will focus on trading and advisory services for distressed debt investments in Asia, but the firm will eventually branch out to emerging markets and Europe.

Michel Lowy and Soo Cheon Lee headed Deutsche’s Asian distressed products group until this past March. Following Lowy and Lee’s departure from the German bank, other members of their team joined Pacific Alliance Group’s distressed asset investment unit.

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