Financial News has an interesting article today on which banks will be hiring, and which areas they’ll be hiring in 2010. We’ve listed its findings below, along with some additional colour from our own contacts.

The main thing to note is that hiring in 2010 is probably going to be BIG: “It really is going to be across the board,” insists the head of one financial services search boutique.

Bank of America

Financial News says:

· Focus on hiring for advisory, research, sales and trading, and corporate banking.

· Seeking to recruit replacement for industrials banker Mark Echlin.

· Wants investment bankers for its power and utilities, oil and gas, and its metals and mining teams.

· Senior managing directors will be the focus of the searches.

· Andrea Orcel wants 10 dealmakers in Europe

· Sanaz Zaimi joining in fixed income with large hiring budget at her disposal.

We say:

· Sanaz Zaimi will need to hire to replace the 11+ people that have joined Antonio Polverino at RBS.

· Hiring is also expected in equity derivatives, with shortages on both the institutional and retail side.

· It’s unlikely that BofA Merrill will do much in equity research – the team in this area was left fairly intact.

Barclays Capital

Financial News says:

· Focus on Asia, M&A and ECM

We say:

· Agree, although some additional hiring in equities sales and research is also possible.

Citigroup

Financial News says:

· Focus on promoting juniors; replacing lost staff

We say:

· Citigroup needs to rebuild.

· The bank has added 500 staff in European capital markets since January and now needs to rebuild in M&A.

· Further hires in equities sales and trading (cash and derivatives) are also expected under Derek Bandeen.

· Citigroup still has “big gaps” in equities research and is expected to hire here too.

· Further exits are expected after bonuses are paid; the bank will struggle to hire due to a lack of visibility about its future and TARP-related restrictions on pay.

Credit Suisse

Financial News says::

· They’re hiring opportunistically

We say:

· Credit Suisse has fewer gaps than elsewhere

· They’re building “quite strongly” in prop trading

· In a presentation accompanying its third quarter results, Credit Suisse indicated that it plans to build in commodities, investment grade debt, equity derivatives and FX.

· Senior M&A hires in Germany are also expected.

Deutsche Bank

Financial News says:

· Their focus will be juniors, FIG bankers, and upgrading

We say:

· This year, Deutsche has been hiring MDs into its European corporate finance business (FN says it’s hired around 40). Next year will be all about VPs and associates.

Goldman Sachs

Financial News says:

· Opportunistic hiring only

We say:

· We agree

HSBC

Financial News says:

· Hiring will be focused on equities and advisory

We say

· There’s unlikely to be much corporate finance hiring, although junior oil and gas bankers may be in demand

· The real activity will be in cash equities.

JP Morgan

Financial News says:

· Not really much need to hire unless people leave to follow Bill Winters

We say:

· JP Morgan is hiring, but is doing most of it directly without going through recruiters. Equity derivatives are said to be an area of emphasis.

· In a September investor presentation, JP Morgan emphasised plans to expand its commodities, prime broking and emerging markets businesses.

Morgan Stanley

Financial News says::

· They’re focused on hiring for fixed income and equities sales and trading.

We say:

· 200 out of 400 sales and trading hires have already been made.

· Continued emphasis on equity derivatives is expected in 2010

Nomura

Financial News says::

· 2010 will be all about building out the US

· In London, next year’s focus will be on oil and gas; FIG; restructuring

We say:

· Most restructuring hires are complete

· Insiders predict “strategic hires” in global markets, with continued growth in equities.

Royal Bank of Scotland

Financial News says::

· The focus will be on building out industry coverage groups; sales and trading; corporate finance.

· Broad hiring across sales, trading and research.

We say:

· Potential for mass exodus if RBS doesn’t pay this year, with a lot of uncertainty and dissatisfaction in the ranks

UBS

Financial News says::

· Focus on fixed income, currencies and commodities; restructuring; healthcare

.
· Need to rebuild fixed income in particular after losing “several hundred staff.”

We say:

· Big need for replacement hiring in FICC

· But uncertainty over bonuses, and an unwillingness to pay guarantees may hamper hiring efforts

· If UBS doesn’t pay well in the next bonus round, mass departures are expected. UBS has hiked salaries and promised to match pay to the performance of the bank as a whole and business units once it becomes profitable again. This year, however, there will be market-competitive compensation in all divisions.