Burst of hiring for emerging market equity sales pros

It may be September, but recruitment for emerging markets equity derivative sales is apparently booming.

Despite the lateness of the season and the proximity to bonus payouts, recruiters say banks are still avidly hiring emerging markets equity sales specialists in the London market. According to some there are as many as 100 openings for equity derivative sales professionals alone.

"It's hard to identify an institution that is not hiring or intending to hire on the emerging markets equity derivatives sales side," says Shaun Springer, chief executive of search firm Napier Scott. "It's the hot subject," he adds. "The Middle East is a very hot area, Russia is a hot area, and the Balkans are growing fast."

Barclays Capital is rumoured to have boosted its emerging markets equity derivatives sales team yesterday with hires from JPMorgan, a fact as yet unconfirmed by the bank. Similarly, Derivatives Week reports that UBS has hired Carmen Greco from Goldman Sachs as head of derivative sales for Europe, the Middle East and Africa. It says her addition reflects the growth of sales in emerging regions.

Tutu Agyare, head of European emerging markets at UBS, declined to tell us whether Greco's appointment heralds further new hires in the area.