Forget the ongoing banking redundancies: firms are also hiring. Deutsche Bank, Man Group and Citi have all voiced hiring intentions in recent days. Man Group is even said to be on a "hiring spree."
Deutsche Bank is reportedly creating 110 jobs in research.
These are not plain equity research jobs, however. David Folkerts-Laundau, the London-based head of markets research at Deutsche Bank told Die Welt that the bank wants to expand its Frankfurt-based Deutsche Bank 'research thinktank' from 90 to 150 people in the short term and to as many as 200 people in the long term.
Folkerts-Landau leads a group of economists, suggesting the new hires will be fundamental rather than company-focused researchers. Deutsche declined to elaborate.
Deutsche isn't the only place engaged in some substantial hiring. The Financial Times reported at the weekend that Man Group is preparing a "sweeping reorganisation' of AHL, its quantitative finance business. To this end, it will reportedly be embarking on a "hiring spree" and increasing pay and perks for researchers and developers.
Finally, Michael Corbat may have successfully orchestrated a big increase in profits at Citi, but this doesn't mean the bank is not hiring expensive bankers.
Jim Cowles, Citigroup's European chief, told Bloomberg that the bank plans to hire 'several senior investment bankers in Europe.'
“We’re looking to make several more very senior, impact- level managing director hires in investment banking to strengthen both our geographic and industry capabilities,” Cowles added.