Deutsche Bank hiring 40-50 junior M&A bankers in London
If you're a junior corporate financier looking for a new opportunity, you could do a lot worse than directing your attention towards Deutsche Bank.
After recruiting 109 M&A professionals in the UK between 2008 and 2009, of which 35 were managing directors, the German bank is now concentrating on amassing people at the junior end.
A spokesperson for the bank told us that having hired all those senior M&A staff during 2008 and 2009, they're now, "realigning staffing levels," and going through a "strategic and selective process at a more junior level."
Deutsche declined to give numbers, but according to recruiters this process amounts to hiring 40+ analysts in London alone.
"Deutsche were first out of the block. They're looking for a lot of people," says one recruiter.
As we noted the other day, Deutsche isn't alone in looking for analysts - it may be hiring more of them than other banks, but everyone's doing it.
"Most banks are now hiring at the analyst and associate level," says James Heath of recruiters Greenwich Partners. "They cut too deeply, and now they don't want to be caught short at the junior end," another recruiter adds.
However, the resurgence in hiring isn't good news for everyone. Recruiters say banks are most interested in analysts currently working for top tier institutions. Failing that, they'll opt for the second tier, and failing that they'll opt for unemployed first tier analysts. Anyone out of the market for 12 months or more will struggle to get back in, says Heath.
There are also questions over how long the exuberance surrounding analysts can last. "There's optimism, but it still feels a bit premature," says Logan Naidu at recruiters The Cornell Partnership. "This time last year everyone was talking about doomsday scenarios. A return to aggressive hiring feels sudden, but very welcome."
