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Late Lunchtime Links: Two firms that are hiring staff, one in large numbers

We've expressed scepticism aboutCantor Fitzgerald's insistence that it's hiring people as banks fire them, but maybe we were wrong.

Today it emerges that Cantor has actually recruited 200 people since the start of this year, increasing its staff by 20%.

Moreover, Cantor appears to be hiring still. Chief executive Shawn Matthews told the Wall Street Journal that Cantor plans to continue hiring in sales and trading and that it could hire a "few hundred more staff."

Failing that, Goldman Sachs is hiring in physical commodities. Reuters reports that it's recruited someone from Trafigura for its physical commodities team, an area that it's allegedly building up.

In other news:

"There will be a substantial requirement for MF Global staff to carry on beyond the end of November and broadly we would expect to offer continued employment to around half of the current workforce." (The Times)

HSBC is letting go of hundreds of bankers in London and Hong Kong. (CityAm)

Bankers let go in Asia have very limited options for re-employment. (Reuters)

"It [New Star] was like a place, one of those terrible places you hear about, where sexual abuse is going on and everyone is too scared to complain," Mr Evershed said. (Telegraph)

3i is cutting 45 jobs - more than half of which will be in London. By the year-end, it will have a workforce of about 430, compared to 750 in mid-2007. (Financial Times)

Mr. Flowers doesn't expect to keep Mr. Corzine on as a part-time operating partner at the Flowers firm. (Wall Street Journal)

Hot or not for bankers. (Cadandthedandy)

First, most bankers see half of their salaries disappear in tax. Second, bankers work like stink. Third, there is a strong case for saying this whole financial crisis stems back to Bill Clinton's decision to force US banks to lend to sub-prime, high risk, borrowers. (Sky)

A graphical representation of Weimar Germany. (Alea)

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AUTHOReFinancialCareers UK Insider Comment
  • P
    P
    14 November 2011

    Cantor hires and fires...its a brokerage so if you don't produce the vig in the first 6 mos your out...cantors jobs are not really the smae as the jobs that have been lost....

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The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.