Top Firm Said Planning Hiring Spree
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The hires will come in fixed income, FX and emerging markets. The newspaper quotes Sandford C. Bernstein analyst Brad Hintz, who said: 'These hires are a good step because Morgan Stanley cut back substantially from fixed income in 2008, and they just didn't anticipate the big recovery'.
In the meantime, The Financial Times reports that the US government has indicted Hansruedi Schumacher, a former banker at UBS, for allegedly helping the bank's US clients evade US taxes.
And Reuters reports that Macquarie Group is in 'serious discussions' to acquire niche investment banker Fox-Pitt Kelton, in a deal that could be worth $150m. Macquarie confirmed earlier this week that it was also acquiring US diversified fund manager Delaware Investments from Lincoln National for $428m.
Finally, The news agency also reports that shares in Citi closed up 8.5% Thursday (to their highest level for 3 months), on growing confidence that the firm will become more efficient and profitable after disposing of troubled and non-core assets.
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