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Equities hiring hotter than at any time in living memory

Fixed income trading made all the headlines in the first quarter, but equities is shaping up as the place to be for the rest of the year.

According to headhunters, cash equities recruitment is now so feverish that 2006 and 2007 look tepid by comparison. “This is the most fluid hiring market I’ve seen for eight years,” says Alex Williams at search firm Pelham International. “There’s still a lot of recruitment going on, and it’s happening later in the year than it usually does.”

“We’re seeing a high level of hiring across the board and astronomical numbers given in guarantees,” confirms another equities headhunter.

The excitement around equities is being generated by banks like BarCap and UniCredit, as well as brokerage houses like Icap, Evolution and Execution.

“There’s an element of desperation,” says one headhunter. “Hiring banks are trying to pull people out before we get too much further into the year, and banks are becoming much more aggressive about trying to retain people.

“They’re offering packages that compare to 2007.”

In a research note out today, Credit Suisse analysts predict that Deutsche Bank’s Q2 results will show revenues from equities sales and trading doubling in the second quarter compared to the first, and that its ECM revenues will have risen 70%.

Comments (13)

  1. Not sure about this Sarah.

    Margin compression is the norm in Equity Sales and Trading. Far too much competition. If the client is competent and know what he is doing then he also doesn’t need the research provided by the big banks. All this means that Equities hiring is mainly for top producers who are few and far between……..

  2. “hiring hotter than at any time in living memory”

    …if you’re a goldfish or a toddler

  3. you sure you are living on planet earth like the rest of us?

  4. Glad to see your work is being appreciated as always, Ms. Butcher.

    Duke Of Lancaster VI Reply
  5. Sarah, you are back at it. Having over stretched headings. Anyways, how old are you ?

  6. just not true
    using a sample of one headhunter
    there has been an increased in equity business activity just by the nature of the times, but it’s flowy like in rates and manageable with current staff numbers.
    i think you can see the direction of the market using headhunters as indicators when the bigger headhunters for derivatives are looking at areas they don;t usually look at like actuarial and investment consulting. a sign of desperation – these are low margin businesses – actuaries and consultants do not really get bonuses and wages are lower on average too.

  7. @bc and everyone else – This isn’t based on a sample of one headhunter. It’s based on a sample of two. In fact, it’s based on a sample of three as an equities headhunter I spoke to earlier in the week for a different article (h*tp://news.efinancialcareers.co.uk/News_ITEM/newsItemId-19738) said the same thing. It refers to cash equities, mainly sales and research. Not derivatives. And it’s not polite to ask women their age…

    Sarah, Editor, eFinancialCareers Reply
  8. well, sample of 3,2 or 1 – still from headhunters

    It looks suspiciously like the named headhunter wants to use the article to fish for CVs……….

    Also article didn’t specify where in equities.

  9. Yes of course Sarah take the words of headhunters who have a vested interest in talking up (or even creating) a false market in cash equities recruitment……

    forget what the equty analyst above said.

  10. @bc and FItrader – I’ve clarified within the article that it refers to cash equities. I agree that margin compression is an issue, but it isn’t preventing recruitment – Barclays Capital, HSBC, Evolution, ICAP, Execution, even RBS are/have been hiring, with BarCap hiring significant numbers. Increased competition, reduced commissions and high volatility all mean that sales people and researchers are still valued.

    Sarah, Editor, eFinancialCareers Reply
  11. hiring has been opportunistic by places without a business and in big blocks (this is the case in many areas) but not to a degree where people can command 2007 money or the cash – equities job market having the “fluidity” exaggerated in the article. That is just an advertisement ploy by your sponsor HHs.

    barclays and evolution were purely opportunistic as supply is so great and cheap. barcap did the same in m&a at the end of last year. It is not an indicator to the market in general.

    “Increased competition, reduced commissions and high volatility all mean that sales people and researchers are still valued”
    equity researchers are not “still” valued. banks have been removing researchers since 2006 in fairly large volume. It is also an area with a very strong supply line for new people to banking.

    IPO’ing will increase for sure – only way is up from zilch. ECM is at 2008 levels

    I would ask proper industry workers i.e. get contacts at different banks, AMs etc – headhunters are no experts on financial matters nor really can call trends.

  12. This is the funniest thing i have read in a very long time! I head an Cash Equities Trading desk in one of the top 4 and I can tell you what you have written is incorrect – BIG TIME!

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