Brexit or not, low volatility or not, Trumpian uncertainty or not, 2017 has been a time of hiring. The first half of this year has witnessed a ripple of front office recruitment everywhere from Barclays to Credit Suisse and HSBC.
Thanks to notice periods of three to six months, however, many of the big names hired in the first half are only manifesting themselves now, or will appear in the months to come. When they arrive, some are expected to have mandates to build teams and to therefore do some recruitment of their own. Along with team-builders already in their roles, this is expected to feed recruitment in the second half of this year and into 2018.
If you’re looking for a banking job now, then, this is who you should probably know.
Zorzoli’s the man for anyone looking for a new rates sales job in Europe. Formerly head of rates sales at Bank of America in Europe (and before that, a rates man at Goldman for a decade), Zorzoli was poached by Barclays in June. He's expected to arrive in September and is expected (by headhunters) to strengthen Barclays’ team in London.
Jallot is one of the biggest moves of 2017. Hired by Nomura from Citi in May, he turned up last week as head of the Japanese bank’s global markets division in Europe, the Middle East and Africa. Jallot’s arrival comes as Nomura’s international investment banking business is finally profitable and back in growth mode. Jallot is widely expected to hire, if not this year then next.
We’ve written a lot of about Mike Stewart already. Hired by Credit Suisse from UBS in December 2016 to be global head of equities based in New York, Stewart came with a massive notice period and only landed last month. Even before his arrival, however, Stewart orchestrated a wave of equities recruitment at Credit Suisse on both sides of the Atlantic. Headhunters say more hiring is expected: the bank wants to be within the top five globally in equities. It already ranks fifth in the U.S and Europe according to Greenwich Associates.
McQuire is one of Stewart’s hires. Recruited from Deutsche Bank in May to run cash equities sales and trading in Europe, he’s expected to arrive sometime early in the third quarter. Expect hiring – possibly from Deutsche – in 2018.
Chryssikou isn’t new to Goldman Sachs, but she is new to her role. As we reported earlier this year, she was made head of global sales strats for the fixed income division in March. Goldman’s enthusiasm for using strats (quants) to help it leverage data to service clients plus the problems in Goldman’s fixed income division are likely to make Chryssikou an important player in Goldman’s fixed income recovery. Expect hiring of quantitative PhDs.
2017 has been a big year for leveraged finance hiring, with Goldman, HSBC and Citi all strengthening their teams. Given its current hiring mien, Nomura is also expected to pick up some leveraged financiers in the second half and into 2018. The man orchestrating this is likely to be Matrice Maffre, the Japanese bank’s London-based head of leveraged and acquisition finance.
Another Nomura man to know is likely to be Charles Pitts-Tucker, the Japanese bank’s head of investment banking in EMEA, who’s expected to add to the bank’s M&A and coverage team
Headhunters say Ray Doody is not done with hiring leveraged financiers into HSBC. Doody was hired from J.P. Morgan in January as global head of leveraged and acquisition finance. After a long notice period, he only arrived in May.
Alasdair Warren, Deutsche’s head of corporate and investment banking for EMEA is also thought to be in the market for some big-name coverage hires. Warren is nothing new to Deutsche – he joined from Goldman in November 2015, but headhunters say he has a mandate to recruit as the German bank tries recovering lost market share. Last October, Warren told Reuters he was particularly eager to regain Deutsche’s place in the equity capital markets league tables. Headhunters suggest Warren has struggled to land big name hires after Deutsche failed to pay performance bonuses last year.
Jefferies is one of many big names to swap places in emerging markets this year. Hired from Goldman Sachs in London in March, he Jefferies as co-head of EM as the mid-sized investment bank proclaimed its intention of being “thought of…in the same league as Citi or J.P. Morgan.”
Dutch bank ABN AMRO is back in growth mode. In April, it hired Zafar Khan, a Citigroup veteran as head of UK country coverage. Khan is expected to hire between seven and 15 bankers in London over the next few years.