The Easter holiday is over. The eggs are eaten. The sun has – miraculously – come out in London. And it’s time to find a new job.
Unfortunately, as our ‘Post-Easter hiring predictions’ from banking headhunters revealed, there’s not a lot of likelihood that big banks will embark on big hiring in the second quarter. The large US investment banks are still said to be waiting to find out how Dodd Frank will impact their business before they commit to adding headcount. Most of the hiring is at hedge funds. Any recruitment at large banks is more about upgrading with top performers than any real expansion.
Nevertheless, there are some finance firms that have announced plans to hire tens – if not hundreds – of staff in the second quarter and throughout the remainder of 2013. Many of them we’ve reported on already. If you’re thinking of applying for a new job now, here are twenty growing organisations grouped together in one helpful list.
1. Vanguard Asset Management – hiring 100 people in London
Financial News reports today that Vanguard Asset Management wants to hire 100 people in London this year. New hires will reportedly focus on UK sales and capital markets (particularly bond investments). Vanguard will also be hiring lawyers for its in-house legal team to help handle increased regulation.
2. Bank of America – unspecified global hiring aspirations over the next three years
Bank of America may not exactly be hiring now, but chief executive Brian Moynihan said last week that the investment bank plans to hire ‘in moderation’ over the next three years. Headhunters in London say BofA is on the look out for fixed income salespeople and traders.
3. Oppenheimer & Co. – 58 people in London over the next five years
US bank Oppenheimer & Co wants to double its European headcount over the next five years. Right now, it employs 58 people in London. New hires will be focused on equity research and debt and equity capital markets.
4. Millennium Capital Partners – no numbers, but has hired 11 people in London since January
US hedge fund Millennium Capital hasn’t made any proclamations about its hiring plans, but our research last month revealed that it had hired 11 people in London since January, many of them from investment banks. Headhunters told us Millennium is hiring, “selectively.”
5. Mitsubishi UFJ – hiring 100 ‘investment bankers’ outside Japan in 2013
The Financial Times reported last month that Mitsubishi UFJ wants to hire 100 ‘investment bankers’ this year. The bankers in question will reportedly, ‘plug product offering gaps in the US and Asia in particular.’ No further detail was given.
60 of the new hires will reportedly be in New York. The remainder will be in Hong Kong, Singapore and London.
6. BlueCrest Capital Management – seemingly hiring for a new equities fund
As we reported last month, BlueCrest has been picking up proprietary traders from investment banks for what is allegedly a new equities-focused fund. People close to the matter tell us that BlueCrest is still hiring.
7. Arqaam Capital – hiring in Dubai, Beirut, Egypt, Libya and London
Arqaam Capital, the emerging markets focused, Dubai-based investment bank is also hiring. Its head of HR told us last month that there are plans to expand offices in Dubai, Beirut, Egypt, Libya and (closer to home) London, this year.
8. Wells Fargo – hiring investment bankers across the board in London
Wells Fargo is expanding its wholesale banking arm. Stuart Wales, a senior recruitment manager in the wholesale bank in London, told us last month that Wells is expanding across “across the board” in the City.
9. VTB Capital – hiring in London, New York and Asia
Russia-based VTB Capital also remains in expansion mode. Last year, VTB increased its London-based headcount by 40% and added 100 investment bankers globally. Sue Maple, Global Head of Human Resources at VTB Capital, said the bank is continuing to develop its presence in Europe, Asia and North America. “We continue to hire the best talent in our target markets and business areas focused on business development and needs,” she told us.
10. Allianz – hiring in Indonesia, Thailand, Malaysia, China and India
Insurance firm Allianz is also hiring. Rangam Bir, head of property and casualty, and regional market management for Asia Pac told us last month that the firm has big expansion plans in Indonesia, Thailand, Malaysia, China and India.
11. Berenberg – wants to hire 30 equity researchers in London over the next two years, 40 people for other business areas
The Financial Times reported in February that Berenberg continues to build up its equity research team in London.
The German bank reportedly wants to hire 30 equity researchers in London before 2015, plus another 40 people for its equities, private banking and corporate advice businesses.
12. STJ Advisors – growing at a “rapid rate” in London, Paris and Hong Kong
STJ Advisors, a debt and equity capital markets boutique set up by John St. John, the former head of European equity capital markets at Nomura, has gone from three to 50 employees in the past three years and continues to expand at a “rapid rate,” according to St. John. STJ currently has offices in London, Paris and Hong Kong.
13. BNP Paribas – hiring 1,400 people in Asia over the next three years
BNP Paribas said in February that it wants to hire 1,400 people in Asia by 2015. The new hires will be reportedly be spread across trade finance, interest rate and commodity hedging, private banking and insurance and will be based in China, Indonesia, Hong Kong and Singapore.
14. Cantor Fitzgerald – ongoing plans to hire 200 people for its brokerage business over the next year
Last year, Cantor announced that it wanted to hire 200 people for its brokerage business. Since December 2012, the London Financial Services Authority register reveals that headcount at Cantor Fitzgerald Europe has gone from 132 to 174 people, suggesting that hiring is indeed happening at a rapid rate.
15. Citigroup – hiring ten senior M&A bankers in Europe
After appointing Luigi de Vecchi, a former Credit Suisse and Goldman Sachs banker as chairman for corporate and investment banking in continental Europe in February, Citigroup said it wanted to hire ‘up to 10 senior bankers’ in Europe. The bank declined to comment further.
16. Knight Capital – hiring equities salespeople in Europe
Albert Maasland, European chief executive at Knight, told us in February that he wanted to hire equities salespeople with, “very deep relationships, who are as comfortable selling in a low touch as in a high touch world.” Maasland said he was particularly interested in people with client relationships in Germany and Southern European countries like Italy and Spain.
17. Barclays – hiring 100 corporate bankers in the Middle East
Barclays is cutting investment bankers, but hiring corporate bankers. It wants to hire 100 corporate bankers for its Middle East business this year, with hiring focused on Dubai.
18. Marex Spectron – plans to hire 35 people in Singapore
Marex Spectron, a commodities futures brokerage, is reportedly increasing its Singapore-based headcount from 15 to 40 people this year and expanding its reach from freight and coal into metals, energy, futures, agriculture and foreign exchange.
19. European Central Bank (ECB) – needs to hire up to 2,000 bank supervision staff by 2017
In 2017, the ECB will gain responsibility for supervising banks in the eurozone. Before that time, one study suggests it will need to hire up to 2,000 new people to help it supervise 130 banks directly. The ECB itself has put the number of people it needs to hire at a more modest 500-1,000. Either way, there will clearly be jobs on offer.
20. Blackrock – hiring 500- 600 people in 2013
Fund management firm Blackrock has been cutting under-performing staff. However, it’s also hiring. The Financial Times reported last month that Blackrock wants to hire 500-600 people this year. Business areas targeted for expansion weren’t detailed, but Blackrock was said to be focused on expanding its US defined contribution pension savings business, iShares, its emerging markets and alternative funds, and building its in-house electronic exchange to match trades between clients.