Deutsche Bank Distressed Desk Nets $100 Million on EchoStar Bets

Deutsche Bank AG’s US distressed-products desk notched more than $100 million in profit this year betting on securities affected by the dramatic near bankruptcy and subsequent windfall at Charlie Ergen’s EchoStar Corp., according to people familiar with the situation, who asked not to be named discussing confidential information.

The unit traded and took positions in both equity and debt throughout EchoStar’s various units, the people said, getting a major lift in recent weeks after EchoStar announced wireless spectrum sales that will bring in about $40 billion.

Taken together, the winnings make Echostar one of the desk’s biggest ...