Junk Bond Traders’ Hiring Spree Shows Need for Humans

Machines are having a hard time infiltrating junk-bond trading like they have the Treasury market. That means banks have to keep teams of human traders to remain relevant in this lucrative market.

Deutsche Bank AG has spent a year rebuilding its U.S. team after several departures, and its latest addition, Mark Doria, is set to arrive in January from Citigroup Inc. His move will bring the number of high-yield bond traders in New York to six after adding at least three others this year, according to Amanda Williams, a spokeswoman.