A team of distressed debt traders who resigned from Deutsche Bank earlier this year have set up their own boutique investment bank in Hong Kong.
SC Lowy, which opened today, will deal exclusively in distressed and illiquid investments across Asia, an asset class that has become increasingly fashionable among banks and hedge funds since the financial crisis struck.
“With the volatility and level of distress that came back in the market over the last 18 months we decided it was the time for us to be entrepreneurs and build our own business,” said Michel Lowy, chief executive, who founded the company alongside Soo Cheon Lee.
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