Job Market Pulse: Credit firms thirsty for junior bankers, asset managers anticipate strong headcount growth
In this week's roundup of hiring news, SocGen keeps its foot on the foreign pedal, London firms heat up growth plans and a once-shrinking private equity firm starts growing.
SocGen adding equities staffers
Societe Generale’s global cash equities push continued last week with two senior hires within the firm’s electronic sales and trading team in Hong Kong, according to Financial News. The French bank has spent the better part of two years adding staff to it equities trading businesses in the U.S. and in Asia.
Asset management firms to load up on risk pros
Nearly 60% of asset management firms plan to add headcount in 2014, according to a new report from PwC. Most headcount additions will be in middle office roles like operational risk, although proven front office workers are expected to see plenty of offers to move to competing firms as bonus season wraps up.
Sovereign wealth giant eyes aggressive growth
The world’s biggest sovereign wealth fund is looking to double the number of portfolio managers that follow hot sectors in the U.S. and Europe. That means the $840bn Norwegian oil fund will look to hire as many as 20 new specialists to its equities team.
MBA eyeing Wall Street, and vice versa
If you are an MBA looking for a job in banking, this may be your year. In 2014, the largest single increase in MBA recruiting will be in the financial services industry, according to a new study. In India, for example, Goldman Sachs, Citibank and KPMG, among others, plan to significantly increase its hiring of MBAs. J.P. Morgan plans to do the same in the U.S.
London credit funds want junior bankers
Credit funds in and around London are reportedly on the lookout for analysts and associates with debt restructuring and leveraged finance experience. U.S fund Centerbridge Partners has joined the list, which includes Och Ziff, Monarch Alternative Capital and BTG Pactual.
More London hires
Meanwhile, a separate Bloomberg report says that New York-based MKP Capital Management is hiring in London, as is Ellington Management Group and GoldenTree Asset Management.
Houlihan Lokey’s methodic growth plan
Mid-market U.S. investment bank Houlihan Lokey just added another director within its financial institutions group, with grew substantially last year. The firm explained its growth plans to us last year. “Our view is that if we find great bankers, we will hire them.”
Getco-Knight byproduct coming into focus
Trading firm KCG, born from last year’s Knight Capital and Getco merger, is looking to build up its European ETF trading team. The new firm is said to be emphasizing its institutional and retail client business over proprietary trading.
3i set to regrow?
UK-listed 3i Group just hired four new associates in Europe. It’s rather big news considering the private equity firm has been cutting staff in recent years.