Selective hiring for principal finance teams
Recruiters say banks are making junior principal finance hires. But they are being choosy about who they take.
"Several banks are interested in expanding their principal finance teams," says Logan Naidu, a consultant at recruitment firm Cornell Partnership. "But they are being selective about it - they want superstars with good modelling and transactional skills, typically with a background in M&A."
Naidu says Deutsche Bank, Goldman Sachs, Barclays Capital and Macquarie Bank have all been hiring for principal finance and infrastructure funds.
Wachovia may soon follow in their footsteps. Derivatives Week reports that the US bank has hired Tom Burke from Dresdner Kleinwort Wasserstein to head a new debt principal finance business in London.
