Although revenues are still hard to come by, firms continue to build key areas of their operations.
Morgan Stanley is said to be looking to beef up in Europe and several hundred staff could be taken on over the coming months.
And Collins Stewart Tullet is said to be mulling over taking legal action against rival ICAP, following the 'poaching' of 26 of its staff in Hong Kong and Singapore in October. A spokesman for Collins Stewart has been quoted, saying: 'People leave companies and go elsewhere, it's part and parcel of the business. But what you can't do is be a director of a company and jump ship and induce others to come with you'.
Societe Generale has added seven new hires to its global financial institutions group. The new recruits come from rivals, including Lehman, Nomura, JP Morgan and Calyon.
Finally, DrKW has made five key hires in its derivatives and credit marketing areas. Bankers have come aboard from Svenska Handelsbanken, Hypo, Commerzbank, Deutsche and Swiss Re.