Much as headhunters say they are very interested in hearing from investment banking candidates who've recently been made redundant and can be placed in new jobs without the hassle of buying out deferred bonuses, the reality seems challenging. Most markets professionals who've lost their jobs in the past year haven't found new ones.
Financial News today looks at the whereabouts of the 250 people who were let go from RBS's equities business in February. It identifies only 44 of them, or 18% who've been re-employed elsewhere.
Similarly, we've looked again at the long list of fixed income sales and trading professionals who lost or left their jobs in the second half of 2011 which was assembled by search firm Nicholas Scott. When we checked this list at the start of May, only 19% of the people on it had found new positions. Today, that's increased only slightly - to 24%.
Who's been recruiting these fixed income professionals 2012? We've listed the 21 hirers below. Notably, the hiring has been very spotty - no one's on a big build, but if you're trying to get back into the market, this may give you an indication where to send your CV first.
Hired: John Erratt from Barclays as a sterling spot trader in February.
Hired: Alaistair Sharpe, a rates trader from RBS, in March.
Hired: Martin Cross from BNP Paribas as a rates trader in January.
Hired: Calixte De Verdelon, an exotic rates trader from Goldman Sachs, in June.
Hired: Antonio Caverero, previously a rates trader at Citigroup, in May.
Hired: Carl Hollitscher, previously a rates salesman at Credit Suisse, in February.
Hired: Guillaume Chemin, a Benelux focused salesman from Credit Suisse, in February.
Hired: Guillaume Huteau from Credit Suisse as head of CEEMEA FX options trading in March.
Hired: Massimo Amati, a former fixed income trader at Credit Suisse, as a portfolio manager in March.
Hired: Roland Jacubetz, a former fixed income salesman at Credit Suisse, in April.
Hired: Stuart Wilson, a former director of fixed income trading at Credit Suisse, as a director of fixed income trading again, in April.
Hired: John Pramgard, a former senior sales manager at Nordea, as an associate director in March.
Hired: Patrick Molloy, a rates salesperson from Westpac, in January.
Hired: Dean Heiden, a director of FX sales at HSBC, as a director of FX sales, in March.
Hired: David Fotheringham, a rate salesman from Mitsubishi UFJ, in June.
Hired: Simone Andre, an associate director in eFX sales at HSBC, as a VP of FX sales, in May.
Hired: Jonathan Sebag, a fixed income derivatives trader from Lloyds, in May.
Hired: Kelvin Jouhar, former head of spot trading at Lloyds, as a senior FX trader, in March.
Hired: Laurent Bilke, head of interest rate strategy at Nomura as a global fixed income economist in April.
Hired: Sami Amara, a former prop trader from Nomura, in June.
Hired: Vuk Kalezic, a former associate at Nomura, as a director of continental European sales in April.
Hired: Matthew Holmes, a former Central Bank & Sovereign Wealth Fund Sales at RBS , as VP of central bank sales in May.
Hired: Richard Skelton, a former currency structurer from RBS in February.
Hired: Robert Coleman, a former rates trader at RBS, in May.
Hired: Tobias Reuber, a former rates trader at RBS, in January.
Hired: Renato Guist, formerly head of Head of European Government Bonds Trading for State Street Global markets, as a director in fixed income trading in March.
Hired: Alastair Blyth, a fixed income macro trader from UBS, in February.