Sheffield Haworth looks for 10 more staff

Tim Sheffield, the chief executive, said eight of the new staff will be based in London, and two in Hong Kong. They will supplement existing teams in areas including private banking, corporate finance and equity capital markets.

The company is also seeking extra hires for new retail financial services and real estate practices.

Sheffield said hiring by banks is likely to increase next year, particularly in equities, and investment banking. 'Banks have already cut back too much in these areas. They are realising that if business picks up any more, they will not have the staff to execute.'

Sheffield Haworth currently employs 35 staff in London and Hong Kong. At the peak of the hiring boom in 2000 it employed nearly 50. Sixteen jobs were lost when the company closed its offices in Paris and Frankfurt in July 2002 and March 2003 respectively.

Sheffield says there are no plans to reopen offices in Europe, but a new office in the US is a possibility. 'We want to be in Asia, Europe and North America, and are actively looking at opening an office in New York.'