Banks Hiring by the Boatload in London

by Derek Loosvelt | May 25, 2010

Opportunities for bankers over in London are up threefold versus last year, according to U.K. recruiters cited by the New York Times, and bonuses are well up, too.

london financial district

Due to the surprisingly quick turnaround in the equity markets, U.K.-based banks and U.S. banks with significant operations overseas are on the hunt for talent, and a lot of it: the City of London is expected to add 22,000 finance jobs over the next two years (after sacking nearly 50,000 in 2008 and 2009).

Especially needed are sales professionals as well as distressed debt experts, risk managers, computer programmers and private bankers (but if you're a private equity pro, you're out of luck: PE is about the only area "not hiring aggressively").

As for specific companies on the lookout for bankers, UBS, Credit Suisse and Lloyds were mentioned as Europeans on the hunt, and J.P. Morgan, Goldman Sachs and Morgan Stanley were named as Americans looking for bodies.

Jobs seem to be available for the taking at all levels, from senior slots ("many in their late 40s ... took the financial turmoil as an opportunity to retire or change careers) to young guns looking to pitch new products ("banks are ... expanding into commodities, currencies, even so-called 'green' investment products").

Filed Under: Finance


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