Research analyst Robin Menzel has become the latest member of Deutsche Bank's rapidly disintegrating European high yield team to jump ship to a rival firm.

Menzel is joining Lehman Brothers in London as an executive director in high yield research. He will cover sub-investment-grade industrial credits alongside Thomas Howard. Both will report to Michael Guarnieri, Lehman's New York-based global head of high yield research, and locally to Jamil Baz, co-head of research.