Financial Markets Jobs Will Come Back - But Not Until......
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The news agency also reports that Tullett Liberty Securities, a unit of Tullett Prebon, has filed a $500m damages claim against BGC Partners, after BGC hired 52 brokers from its New York office.
A spokesperson for Tullett said: 'This is BGC's latest global predatory effort to damage Tullett's business by employing the wrongful means of getting Tullett's employees to breach their contractual and other legal duties to Tullett'.
Reuters reports that Citigroup plans to expands is Asia-based commodities team from 22 to at least 32 in the coming months. The firm plans to push on into new product areas, which include coal, emissions, freight and gas.
The news agency also reports that Societe Generale is to double the size of its commodity trade finance business volumes in 2010, and is expected to increase unit headcount by around 25%.
And The Australian reports that Nomura is to transform its Australian unit into a fully-fledged investment bank, building on recent hires from the likes of Lehman Brothers and UBS.
The Times also reports that UK securities regulator The Financial Services Authority is looking to beef up its enforcement team, and in particular is seeking a senior banker to sit on the panel which blocks or approves the competency of new senior banking hires.
Finally, one area where hiring is probably not on the agenda at the moment is M&A. According to Thomson Reuters, the deal value of global M&A so far this month is just $72bn - the lowest monthly figure since February 2003.
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