Rumour has it that Lloyds wants to hire 150 people for its markets business before the end of the year

This has not been substantiated by the bank, but nor has it been denied: Lloyds allegedly wants to recruit 150 people for its wholesale banking business before the end of the year.

The rumour is creating trepidation among other banks' fixed income recruiters who fear their discontented salespeople and traders might be poached. Needless to say, it could be good news for anyone who loses their job and has no compunction about working indirectly for the British government.

Unfortunately, the figure of 150 may be an exaggeration. Headhunters working for Lloyds were incredulous when we put it to them. However, Lloyds is definitely hiring.

A spokesman for the bank pointed to the June strategic review in which Lloyds said it wants to reduce costs by 1.5bn annually, but that it also wants to, 'build fixed income capabilities' to support its UK customers.

As we noted previously, Lloyds hired Nathan Bostock from RBS to lead its wholesale business in July. Bostock is joining specifically to reshape the wholesale division, but isn't thought to be arriving until 2012. When he does, there may be more hiring still.