London credit analysts quit banks to move to fund managers

London

THEY are the ideas men, pitching strategies to colleagues on London trading desks at banks from Citigroup Inc to Morgan Stanley. Now, they are leaving in droves to join investment firms.

At least 15 credit analysts have left lenders including Credit Suisse Group AG and Deutsche Bank AG in the past 17 months, according to people familiar with the departures, who asked not to be identified because the information is private. Fund managers Apollo Global Management, BlueMountain Capital Management and CQS are among their new employers.

Banks' fixed income businesses are being squeezed by rules requiring them to hold more capital and take less risk. As they pull back,…