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Q4 is usually the dead zone for investment banking recruitment, but some banks are still bringing in senior recruits and certain sectors are heating up.

Where investment banking hiring is heating up in the final quarter of 2014

Even though the third quarter is nearly over and banks typically withdraw from expensive front office hiring at this time of year, headhunters say there are still pockets of recruitment. What’s more, a number of investment banks are still unveiling new senior hires, despite the fact that managing directors are being targeted for job cuts.

Within debt capital markets, financial institutions group (FIG) bankers are said to be hot. FIG deals in EMEA have risen 53% so far this year, to $477.3bn, according to Dealogic and headhunters say this is driving hiring in preparation for 2015. Last week, we reported that Gareth Braithwaite, a senior FIG banker who quit BAML for Standard Chartered, moved to Lloyds only four months later – suggesting definite demand in the area.

Another headhunter, speaking on condition of anonymity, said BNP Paribas has a lot of vacancies in its London equity derivatives business. The French bank has had an excellent year in equity derivatives and wants to spend its recruitment budget before the end of the year, he added.

Senior traders and bankers finding new jobs

There’s less of a pattern to new senior hires, but it’s reassuring for senior bankers facing redundancy that there remains an appetite to hire even as the year draws to a close.

Citigroup has continued its equities push with the recruitment of Claudio Villa as managing director, head of equity capital markets for Italy, from Unicredit. Much of Citi’s hiring has been focused on its equities trading business and it named Tim Gately as head of European equities last week.

Meanwhile, some senior Barclays departures have found new employment. Christian Ahrling, a managing director in Northern European rates sales, signed up to Bank of America Merrill Lynch in a similar role earlier this month. Phil Gilham, an emerging markets focused trader, joined HSBC as a director in its emerging markets trading business.

BAML has been an active recruiter elsewhere – Gordon McKenna joined as head of infrastructure finance from HSBC and Caroline Boddy moved across from Natixis to take a director role in its loans sales business.

Morgan Stanley has joined the equity research hiring party, taking on Harald Henrikse, formerly head of autos research at Nomura, as a managing director in its autos research team.

More surprising, is the fact that Barclays has been hiring some senior bankers and not just those who are part of an ‘integrated origination vertical’. Makram Fares, founder of hedge fund Stone Hedge Partners and a former co-head of equity sales at Nomura, joined the bank this month, while Ihab Saidi, a senior convertible bonds salesman who had worked at UBS for nearly 14 years, also signed up in September.

Related articles:

Barclays is letting go of 45 people a day. But who are they exactly?

Senior FIG banker leaves Standard Chartered after four months, joins Lloyds

Citi hedge fund veterans go it alone

AUTHORSarah Butcher and Paul Clarke Insider Comment

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