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Late Lunchtime Links: Three places that are hiring now. Three areas where hiring is hot

Neither a CFA nor an MBA will make you hot

Financial News thinks there will be more redundancies later this year. Editor Ben Wright says the lack of staff attrition is to blame.

Wright has spoken to the head of European capital markets at: “one large bank”, who says his firm budgeted for an attrition rate of 8% but the actual attrition rate is 0%. “

“No one is moving, no one is retiring, no one is seeking a new career, no one is being poached,” complained the unnamed head of European ECM.

In the circumstances, you’d think no one would be hiring: revenues aren’t growing and there’s no need to replace departed staff. However, this wouldn’t be true: there is hiring. There is even more hiring than before.

Recruitment firm Morgan McKinley reports today that hiring is up: it calculates there were 3,339 new jobs on offer in the London financial services market in April, an increase of 19% on March. Recruitment is particularly vigorous in the areas of: risk, compliance, regulatory and change management, said Andrew Evans, Morgan McKinley’s COO.

We also note that several places have hiring announcements out today. Take Russian bank Troika Dialog, which wants to increase headcount 40% this year: it’s just hired three people, at least one of whom was previously based in London. Take Schroders, which has just hired two asset managers from UBS. And take Insparo, a new emerging markets fund, which has been building an investment team.

Forget Ina Drew. Forget Bruno Iksil. Forget Spain. It’s not that bad – as long as you have skills required by a Russian bank, work in fund management, or specialise in regulatory change.


It’s also pretty good if you work in management consulting. (Financial Times)  

Cuts come to electronic trading? Barclays has got rid of its head of electronic distribution, Danielle Ballardie. (Financial News)  

Lloyds has appointed a consumer banker as head of its wholesale banking arm. (Banking Times) 

“We don’t make huge bets,” said Jamie Dimon, in January. (Marketplace) 

The Volcker loophole is known as portfolio hedging, a strategy that essentially allows banks to view an investment portfolio as a whole and take actions to offset the risks of the entire portfolio. (NYTimes)

Ina Drew retires, possibly with stock intact. (Marketplace)

“Ina Drew has been a great partner over her many years with our firm. Despite our recent losses in the CIO, Ina’s vast contributions to our company should not be overshadowed by these events,” said Jamie Dimon. (Marketwatch) 

Who is Matt Zames? (eFinancialCareers)

The $2bil loss is ~0.5% of JPM’s total capital. (Economic Musings) 

Has Wells Fargo got a $230bn CIO? (DealBook) 

Why you should do your financial services MBA at Wharton. (Poetsandquants) 

Man applies to be social media strategist at Goldman Sachs. (MartinPasquier)

Horlick’s car is a Prius. “I’m trying to save the planet. I feel it’s good for the soul to have a period of austerity.” (Financial Times) 

Comments (4)

  1. Every day you tell us Financial recruitment is dead and every other day you tell us that small EM boutiques ARE hiring (Trioka, VTB, BTG etc.) It is getting a little repetitive and tiring. Any substance? Any insight? We are staring at the barrel of a gun with Greece … the JPM loss is about to get nastier with regulators tightening their grip even further … markets are spooked. Maybe some links into the fundamentals of all this or decent analysis from Roubini and his cohort would be a little more productive than “headhunters losing their jobs by the hundres”, “banks are not hiring” “sorry SOME banks are hiring” – we get it. Trust me we all get it. Markets are extremely tight! But there are some opportunities for the few lucky ones (saying BTG, VTB, Troika or Berenberg to demonstrate this point is ludicrous). I could spend all day telling you Sovereign Wealth Funds in the ME are doing amazing, that Russian oligarchs are also doing rather well etc.

  2. Angrybear, you seem a little angry. Yes, the headline is facile, but I’m simply trying to show which organisations are hiring now – if you’re looking for a job that information in itself is valuable, although the numbers hired are far outweighed by the numbers who want to be hired. This is a jobs site and the commentary we provide is usually around jobs, rather than broader economic trends. I think the latter is best left to Roubini et al, although am open to persuasion.

    SarahtheEditor Reply
  3. Out of all your Lunchtime links above only 1-2 have to do with recruitment directly so not consistent with what you are saying. If recruitment is a constant concern then at least let’s be thorough. If you think you know what VTB, Troika, Rencap, RBC, CIBC, Mitsubishi, Berenberg, ADIA, QH, QIA, GIC are looking for please enlighten us but please don’t give false hope to young grads coming on the market armed with great MSc’s and MBA’s. These left-field and EM banks or SWFs are hardly going to make up for the 100 000’s of jobs going in the City at the main banks. If this website is only concerned with Financial recruitment, it might as well go dormant for a few months/years.

  4. Hi Sarah, I am interested to read in which areas financial institutions are hiring and in which not, so please keep it coming! I will also be interested to read more with regards to several recruiting dynamics. First, why are agents mostly interested in your last job and will seldom put you forward for other jobs (at least this is my experience). Second, with this respect how can people change jobs – is there any point in taking additional qualifications or this is simply a waste of effort and time. Third, what can be a realistic plan B for a long-term unemployed financial professional? Finally, where can job seekers find advice on the best options in their case? Any thoughts along these lines are much appreciated! Thank you!

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