Too many recruitment cowboys?

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Does the financial services recruitment industry need a shakeout?

With recruiters such as Robert Walters posting record profits for the first half of this year, the jobmeisters of this world have being doing rather well out of banks' recent appetite for staff.

But as the number of recruitment companies has seemingly grown faster than coal-fired power stations in China, has the industry fallen foul of dodgy operators? Have you come across any nefarious recruiters or recruitment practices (anecdotes but no names please)? Or do financial services recruiters get an undeservedly bad press?