If you’re a laid off banker, know the name Makor Capital. The independent brokerage group, founded two years ago by former Cantor Fitzgerald executives, is planning a big hiring spree. Makor has also signaled that you don’t necessarily need to be employed to be considered.
Makor told Financial News that it plans to make roughly 20 new hires over the next six months across its London, Paris and Geneva offices, focusing mostly on cash equities, credit and foreign exchange. Makor currently maintains a headcount of around 40.
While the immediate hires will take place in Europe, Makor Chief Executive Michael Halimi said the firm is looking to enter the U.S. through an acquisition. The broker already trades cash equities, fixed income and other products for hedge funds and institutional clients in North America, as well as in Asia and Europe.
Halimi said Makor will look to scoop up bankers made redundant by larger firms. “Banks are reorganizing their resources and cutting off hundreds of salesmen,” he told Financial News. “There is plenty of talent looking for a home.”
Applicants can only hope Makor is truly looking to add to its team, rather than hiring in droves just to fill vacated seats, like Cantor Fitzgerald. More than 40% of the traders and bankers Cantor has hired since 2009 had left as of January. Hopefully Halimi and his ex-Cantor brethren learned a thing or two about hiring and retaining talent.
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