Wall Street's top distressed credit and debt traders - Business Insider

When Scott Martin and C.J. Lanktree left as head of DPG in 2012 to join distressed hedge fund Solus Alternative Asset Management LP, Faurot took over the business. Three years later, he moved to run US credit. "Faurot is the best distressed manager and research guy on Wall Street," according one credit investor. "He could easily be running his own hedge fund."

Malafronte's trading style has lovers and haters. Some who trade with him describe it as self-centered, willing to put on trades alongside clients or opposite them, but always monitoring the health of his position before that of his clients, according to one industry source. Especially if he's built up a big position.

Earlier this year, Malafronte lost roughly $70 million on Chesapeake Energy, though he's made money on other positions since then, according to people familiar with the performance. A New Jersey native, he played baseball at Rutgers.Femenia may seem like an odd choice on a list like this, filled with traders at banks with the much larger balance sheets that are often required for distressed positions.

It's also tricky for a bank with JPMorgan's vast client network and reputation to take an active role in the heated negotiations that can come up in distressed situations, sources said. That can include pushing aside other lenders or investors, firing company employees to cut costs, or acting as the head of a restructuring committee.

Weinstein started out as a lawyer, working at powerhouse bankruptcy and restructuring firm Weil, Gotshal, & Manges in the early 2000s before joining Bear Stearns 2006. Bear Stearns collapsed in 2008 as the financial crisis gathered steam, and he landed at Deutsche, first as a lawyer and deal sourcer but eventually transitioning to a trading role. By the end of 2015, he was head of the firm's US distressed-credit trading operation.

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