Former Derivatives Trader Wins $446,000 at World Series of Poker

Andy Frankenberger, a former equity derivatives trader turned professional poker player, collected $446,000 with his second win at a World Series of Poker event.

Frankenberger, 39, outlasted a field of 179 players to win the 17th event on the World Series schedule yesterday in Las Vegas, where he beat Phil Ivey in head-to-head action to take the top prize in the $10,000 pot-limit hold ‘em tournament.

Frankenberger left the trading desk at BNP Paribas SA (BNP) in New York three years ago to travel and in 2010 started playing tournament poker, which has now turned into his career. He won his first World Series of Poker event last year and earned a second gold bracelet by taking down Ivey, who has won eight WSOP events.

Frankenberger, who also worked at JPMorgan Chase & Co. after earning an economics degree from Duke University, has now won about $2.5 million in live tournaments.

“I left Wall Street having no idea that I was going to play poker professionally,” Frankenberger told the World Series of Poker’s website. “With the successes, I decided to do so. And it was a great decision. I’m really enjoying myself, I’m traveling, playing poker. I couldn’t be any happier.”

To contact the reporter on this story: Erik Matuszewski in New York at matuszewski@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net

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