Brad Poprik, associate in global credit derivatives trading at Merrill Lynch in New York, has joined Deutsche Bank as v.p., high-yield and investment grade credit derivatives trading. Poprik brings headcount on the high-yield and investment grade credit derivatives trading group to five. Poprik's position is new, as Deutsche Bank is expanding the group in response to increased market demand, said Alex Brockman, managing director, global credit derivatives. "We see all of credit derivatives as a growing area, and we chose to strengthen our coverage of the high yield and investment grade markets," he added.
Poprik reports to Boaz Weinstein, director, who runs the group. Brockman declined to comment on whether Deutsche Bank plans new hires in other credit derivatives markets. Poprik declined to comment on his reasons for joining Deutsche Bank. A spokeswoman at Merrill confirmed Poprik's departure.
