After all the bad news, some good: we are given to understand that Cantor, possibly the only organisation left with a burning desire to become a full service investment bank, is especially interested in hiring recently redundant bankers from big name banks.
"They are very specific about who they will hire," says one headhunter of Cantors. "They're not making random hires, they're being very careful about finding the right people."
According to this headhunter, the right people are typically those who've been recently let go from top tier banks ("Goldman, JPMorgan, and Morgan Stanley") and who are "special."
"They want to hire the best people they possibly can," he explains. Most of Cantor's hiring is being done direct, he says, but some is coming through headhunters - like him.
Will Cantor offer guaranteed bonuses? Apparently not. Nor will it seem to offer a big salary. "Salaries at Cantor are typically around £120k max in London," says the headhunter. However, Cantor does seem to pay quite well - the most recent annual results for Cantor Fitzgerald Europe, filed for the year ending December 2010, reveal average compensation per head of £290k.
So far this year, Cantor Fitzgerald Europe has added 23 FSA approved persons according to research firm IMAS. It's also hired 17 people from Canaccord Financial to kick-start its European advisory business. Canaccord isn't exactly a top tier bank but recruiters say its advisory team was well-rated. "Canaccord is the foundation," the Cantor-friendly headhunter tells us. "They'll be hiring more M&A bankers in future."
We have asked Cantor to participate in a Q&A with us about their hiring intentions and are awaiting their response. Watch this space.