Wall Street, City Focus On Recruitment

The New York Daily News reports that several Wall Street firms like Lehman, Merrill and JP Morgan are now on the hunt for talent in The Big Apple. In London, too, the City is more bullish and firms are beginning to hire again, after 26 consecutive months of shedding staff.

And firms appear to be on the hire across the board, gearing up for the sustainable upturn that is now expected next year. There will even be opportunities for investment bankers, once kings of all before them but a dying breed in the the three years or so.

The hunt is also on to service the retail investor, who is being attracted back to the markets as stocks recover. Merrill Lynch plans to hire 2,000 brokers or financial consultants over the next three years and other firms are starting to grow headcount on the retail side.

Employers in London are also feeling more confident about the size of the payroll and future growth. According to a Royal Bank of Scotland poll, there were more companies hiring in the City than firing last month - something not seen for more than two years.

Recruiters are not popping open the champers just yet, as many staff will stay put to pick up their bonuses. The green shoots are clearly on the horizon, however, and there will be more jobs and opportunities for all next year.

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