These are the (unedifying) jobs that will be on offer in the second half of the year
As the second quarter has not been great, there is not all that much hiring.
But there is some hiring. It is still happening. As we noted earlier in the week,
RBS and RBC are still paying guarantees. Financial News reports that
Nomura has hired a top rated metals analyst and fancies a few more resources analysts and salespeople, JPMorgan is still said to be hiring. So is Citigroup, particularly for high yield and emerging markets.
Andrew Morland, consultant at Pelham International, says there will also be a spot of hiring in prime broking. But not much. "Every bank will be hiring one or two people for specific positions," he says.
Predictably, most of the jobs on offer in the second half are likely to be of the middle and back office variety. Recruitment firm Badenoch & Clark issued a market update pointing to the areas hiring this week. This is where it suggested recruitment is currently hot in financial services:
1) Financial crime, bribery and corruption specialists, regulatory monitoring officers and front office advisory specialists. These jobs are all being boosted by the new UK Bribery Act.
2) Collateral management professionals. There has been an increase in demand for all sorts of people working in collateral management. This is due to the 'caution in the air.'
3) Change management professionals Banks are trying to improve their data quality and therefore need to 'reengineer existing finance architecture.' They especially want people with a product control background and project experience.
4) OTC client clearing professionals It's happening: banks are starting to hire people to work on the compulsory centralised clearing of OTC products. No one knows much about this, so anyone with any experience is going to be in big demand.
5) Temps in asset management Asset managers apparently want people with (among other things) transfer agency experience and experience of working in custody.