Katzeff is to take a position with Deutsche Bank'sdistressed products trading group for fixed income, where his focus will be onshipping paper and other sectors yet to be determined.

Katzeff leaves UBS after coming to the analyst post only inOctober. He had previously worked as the top deputy to Deutsche Bank shippingand transportation analyst Justin Yagerman.

When Yagerman left Deutsche Bank last month to join AndyDacy's private-equity team at JP Morgan, some speculated Katzeff could be acandidate to return to the analyst post at his old employer.

Instead,