Banks likely to hire in equities in 2014

'Most of the restructuring .... has happened'.

Bloomberg News reports that Europe’s largest investment banks are likely to hire stock traders in 2014 as a rally that has restored $4.72 trillion to share values boosts revenue, Barclays’ head of European equities said.

'Most of the restructuring in equities has happened', Jonathan Beebe said in a December 11th interview at Barclays’s investment-banking headquarters in London. He declined to comment on the bank’s hiring. 'Revenue growth this year is around 10% for the top 10 banks. That environment may create the need for some banks to look to hire'.

A growing equities headcount would buck the trend in other investment bank operations. European lenders, which eliminated more than 140,000 jobs in two years, will cut at least 5% of trading and advisory staff next year, a survey of three London-based investment-bank recruiters showed this month. The reductions could reach 15%, according to two of them, who asked not to be named.

Hit the link below to access the complete Bloomberg article:

Barclays Europe Equities Head Says Industry Will Hire

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