It’s about time that job additions rather than cuts are making news on Wall Street.
According to Investment News, Morgan Stanley has been beefing up its wealth management unit, hiring 519 financial advisors so far this year, compared to the 622 it added in all of 2007. The New York-based firm has also been fattening up its U.S. investment banking operations, picking up some key executives from the famously defunct Bear Stearns, and actively hiring in Asia and the Middle East.
All this is a good sign for investment management and investment banking job seekers alike, since where one bulge bracket firm goes, there are usually a few more not too far behind.
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