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Lunchtime Links: Some Wall Street bankers are now being offered $8m guarantees; and securitisation hiring is on again

There is more good news on recruitment. Not only does the financial services sector appear to be growing faster in the UK than at any time since 2007, but Wall Street hiring is apparently growing faster than at any time since 2008. And banks are even said to be rebuilding securitisation businesses.

In New York, 6,800 new financial services positions were added between February and May according to the New York State Department of Labor. Admittedly, this pales in comparison to the 5,783 jobs recruitment firm Morgan McKinley calculates were added in London during May alone, but Morgan McKinley’s figures include replacement hires. Bloomberg says Wall Street hiring is now so zealous that some people are being offered $8m guarantees.

Separately, Financial News points to a spurt of securitisation hiring, with the addition of senior securitisation people at UBS, Deutsche and Morgan Stanley in preparation for a hoped for resurgence in the European securitisation market as banks reduce their dependence on the ECB, and
new securitization rules are finalised.

Needless to say, it’s not all wonderful. Some people have started predicting redundancies.

FAT tax RIP. (G20 declaration)

Banks must hold sufficient capital to withstand future losses in a crisis as severe as that in 2008. (Financial Times)

Full banking reform under Basel III to be delayed until 2018. (Telegraph)

Here’s why the Volcker rule could really crush banks’ hedge fund businesses. (Business Insider)

Singapore aims to become a derivatives clearing hub. (Financial Times)

Staff exits are contributing to a Macquarie share slump. (Bloomberg)

Shock! Barclays credit star reemerges at BNP Paribas. (Financial News)

Fund managers will need to employ people to attend AGMs. (The Times)

Women are leaving banking to teach science. (The Times)

John Varley thinks banks must show they understand incomprehension and anger felt by people outside the industry about pay. (Telegraph)

Bonuses are being spent on fine flats, not fast cars. (Guardian)

Air pollution in London is the worst in Europe. (Guardian)

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