These small players could do some fairly big hiring in 2011

Big banks are unlikely to do big hiring in 2011, but small players may provide some solace.

(Before anyone points out that some of the players listed below as small are in fact large, we would like to issue the caveat that we are referring to their size in the UK. When we say they are small, we therefore mean in terms of investment banking in the City. We fully accept that places like Daiwa and RBC are actually enormous from a global standpoint.)

If you want to go to a small(ish) but growing operation in 2011, here's where to try. In addition to the organisations listed below, we understand that Alliance Bernstein, Arbuthnot and Collins Stewart will also be hiring equity researchers.

Banco Bilbao Vizcaya Argentaria

Back in October, BBVA said it aspired to hire 1,000 people for its investment banking, sales and trading and asset management businesses over the next three years. Needless to say, its focus is Asia and Latin America, but recruiters say there could be a little action in London too.

Daiwa

Last month, Daiwa declared it wanted 432 people by March. The focus of its hiring is Asia. However, a spokesman in London assures us that they will be, "hiring across all asset classes," next year.

Mizuho

Mizuho is also hiring in Asia, but recruiters say there's also hiring going on in London, particularly in fixed income.

RBC

RBC has been building its fixed income business in 2010. In 2011 recruiters say it's going for an equities build and still has a few more gaps in fixed income, with a focus on high yield and emerging markets.

Santander

In November 2009, Santander said it wanted to hire 200 people for its capital markets business. So far, this hasn't come to a great deal. Recruiters say there may be more movement in 2011.

Scotia Capital

Don't expect big numbers here, but Scotia is definitely expanding. It obtained UK primary dealer status on November 8th and claims to be developing a, 'long-term, top-tier presence in the European fixed income markets.' Recruiters say Scotia's hiring in rates under Sunay Yildiz, who previously worked at Morgan Stanley and joined from hedge fund Brompton Capital Partners.

Sumitomo Mitsui

Back in September, Bloomberg said Sumitomo wanted to start a brokerage business in London through its Nikko Cordial Securities Unit. There hasn't been much sign of this yet, but recruiters say it will probably happen next year.