These 40 year-old fixed income MDs are in big demand

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Fixed income salespeople and traders are back in business this year. However, if high yield is hot in terms of market indicators, the hiring is happening in emerging markets. If you're a senior fixed income professional with an emerging markets bias, you are wanted.

The latest senior mover in the emerging markets space is David Ishoo Mirzayoo, an EM veteran who spent eight years at SocGen and has just joined Nomura as a managing director and head of sales for central and emerging Europe and Africa. His arrival follows SocGen's appointment of a new head of emerging markets from Millennium Capital and Jefferies' declaration that it's going for it in emerging markets after recruiting two new emerging markets co-heads in London. Headhunters Goldman is looking to grow in emerging markets too.

Senior emerging markets professionals are popular despite Morgan Stanley and Oliver Wyman's lukewarm revenue prediction for the business. Last month they said emerging markets revenues will increase by between 0% and 5% this year, compared to a 5% to 10% increase in equity derivatives. The limp forecast might have something to do with the fact that Morgan Stanley pulled out of emerging markets two years ago though. The U.S. bank hired Kay Haigh from Deutsche Bank to head emerging markets trading in February 2015 and then dumped him again in December that year.  

Nomura declined to comment on Ishoo Mirzayoo's arrival. Although it's hiring, SocGen is in the process of cutting costs from its investment bank and has been encouraging senior staff out the door. Ishoo Mirzayoo had two stints at the French firm - first for at least six years until 2007 and then for another seven years from 2009. The intervening years were spent at UBS. Headhunters said leaving SocGen is hard - the French bank allegedly likes to impose a five month notice period, even on people it lets go.


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