MFS is actively recruiting research specialists for its offices in the U.S., London and Brazil, with spots for equity research analysts here and for emerging market analysts in South America and Europe.
During its annual investment outlook conference in Manhattan this week, James Swanson, MFS chief investment strategist, told eFC News that at a time when companies are "running lean," it's become more important than ever that they "know what they've got, portfolio-wise."
MFS is known as the oldest mutual fund company, having invented the first mutual fund in 1924. Back in 2009, it was reported that MFS' parent - Toronto's Sun Life Financial - was planning to invest $50 million in the firm by 2012, with the intent to hire equity research analysts, among others, following the layoff of some 90 employees in 2008.
During his presentation on Tuesday, Swanson pointed out that U.S. companies are generally hoarding cash rather than reinvesting it in hiring. He reasoned that firms are reacting to the fact their access to capital was cut off when the stock market bubble burst - and the fact that cheap labor is so easy to come by from employees in emerging markets.
But while discressionary spending is down and many service sector companies are particularly distressed, MFS continues to invest in hiring, Swanson said. Currently, its hiring efforts for Boston relate to recruiting for research analyst interns at the undergraduate level as well as hiring a small number of MBA students as research analysts in training.
The firm is also recruiting for a research analyst for Brazil, to be based there.
Beyond that, "We are recruiting for a research analyst to cover companies in emerging Europe, the Middle East and Africa, to be based in our London office. Both of these are new positions," an MFS' spokesperson says.
Also expected are future MFS hires in China and other emerging market countries.