Wall Street is Hiring
source: http://www.reuters.com/article/ousivMolt/idUSTRE59660W20091007
-
-
- tcmfan08
- added this
NEW YORK (Reuters) - So much for conserving cash. After firing staff by the thousands during the global financial crisis, big Wall Street banks are jump-starting hiring in response to a resurgence in bond issuance and trading.
The crisis hit financial companies hard, with New York firms axing around 195,700 jobs since August 2007, according to planned layoff announcements tracked by outplacement firm Challenger, Gray & Christmas Inc.
But financial firms have started re-hiring staff in the first nine months of this year with some 14,000 planned and Citigroup, Wells Fargo and Standard Chartered are among those adding staff selectively, Challenger data indicate.
Big banks are scrambling to beef up bond operations after smaller boutique firms snatched market share in the aftermath of the 2008 market meltdown.
"Wall Street tends to over hire in good times and over fire in bad times. It feels like that has happened once again," said Kurt Harrison, a senior member in the financial services division of global search firm Russell Reynolds Associates.
The U.S. financial sector is showing hints of recovery faster than the broader U.S. economy, where hundreds of thousands of workers continue to lose jobs each month, pushing unemployment to 9.8 percent in September.
...More
The crisis hit financial companies hard, with New York firms axing around 195,700 jobs since August 2007, according to planned layoff announcements tracked by outplacement firm Challenger, Gray & Christmas Inc.
But financial firms have started re-hiring staff in the first nine months of this year with some 14,000 planned and Citigroup, Wells Fargo and Standard Chartered are among those adding staff selectively, Challenger data indicate.
Big banks are scrambling to beef up bond operations after smaller boutique firms snatched market share in the aftermath of the 2008 market meltdown.
"Wall Street tends to over hire in good times and over fire in bad times. It feels like that has happened once again," said Kurt Harrison, a senior member in the financial services division of global search firm Russell Reynolds Associates.
The U.S. financial sector is showing hints of recovery faster than the broader U.S. economy, where hundreds of thousands of workers continue to lose jobs each month, pushing unemployment to 9.8 percent in September.
...More
-
- groups:
- Community
-
- tags:
- Economy, Wall Street, hiring
