Former Equity Derivatives Trader Is Washing The Stench Of Wall Street Off His Soul On The Poker Circuit


Disruption on Wall Street, resulting in image problems for the industry, smaller bonuses and less lavish perks, are spurring other midcareer bankers to similarly reassess their careers. After a lifetime of targeted choices—attending top-tier schools and pursuing competitive internships in hopes of winning high-paying finance jobs—some bankers are bailing out with no Plan B. Their only certainty, according to interviews The Wall Street Journal conducted with a dozen midcareer bankers, is that they no longer want to stay in banking...Andy Frankenberger left the industry in 2009 after 14 years as an equity-derivatives trader. "I wanted to grow more as a person," he says. A recreational poker player, the 39-year-old began playing tournaments in 2010 and has since raked in $2.5 million in winnings. Still, Mr. Frankenberger says he wouldn't rule out someday returning to banking or even starting his own hedge fund. "A lifetime is a long time, right?" he says. [WSJ]