Deutsche Bank’s US Distressed Desk Records $200 Million Profit

Deutsche Bank AG’s US distressed trading desk netted about $200 million in profit during the three months ending Sep. 30, according to a person with knowledge of the matter, part of a trading boom that helped drive record third-quarter gains for the German bank.

The desk has made about $300 million so far this year, its best performance in more than a decade, said to the person, who asked not to be named because the figure isn’t public. A main driver was trading EchoStar Corp.’s equity and convertible bonds, which rebounded spectacularly after the company reached several deals ...