If you’re one of the many people looking to land a job in the finance industry in 2016, you may have heard from your college professor or co-worker that it’s going to be rough going. That may be true for some financial sectors, but certainly not all of them.
These four firms and banks based in the United States have definitive hiring plans for the new year. That’s right – they want new people, and they’re going to pay good money to get them. So, if your sights are set on great investment banking jobs and other financial positions, read on for more information.
Nomura in New York City
In November, the New York Times reported that the Japanese financial firm Nomura had hired six new senior bankers as part of its wider effort to expand into investment banking in the U.S. Among those hired were a head of equity capital markets for the Americas, managing directors in the acquisition leveraged finance department, and a managing director in the industrials mergers group.
“These latest appointments are a testament to Nomura’s longstanding commitment to building upon its investment banking franchise in the Americas,” said James DeNaut, the lead in Americas investment banking, according to the Times.
Why is all this important? Because in addition to these senior hires, Nomura’s recruiting is far from finished. With an emphasis on consumer and technology bankers, the Japanese bank has enough room to double – yes, double – the size of its Midtown Manhattan team in 2016.
Amherst Pierpont Securities in New York City
According to Bloomberg Business, fixed income dealer Amherst Pierpont Securities is expanding its bond business for the future. In early December, the firm hired a new managing director and head of credit sales and a new senior mortgage-bond strategist.
Following the financial crisis, when big banks retreated from the bond business, smaller dealers seized on the opportunity to pick up where they left off. Now, with firms like Morgan Stanley and Credit Suisse backing off fixed-income, Amherst Pierpont is making its move.
“Global capital markets are undergoing a transformational shift toward a low-risk environment,” Mark Werner, the firm’s chief executive officer, told Bloomberg. They aim to “take advantage of current market opportunities” with opportunistic hiring of credit professionals next year.
J.P Morgan nationwide
To put it simply, J.P Morgan wants to hire mergers & acquisitions bankers just about everywhere next year. Daniel Pinto, J.P. Morgan’s head of corporate and investment banking, told Bloomberg in December that “We have been executing a very aggressive plan to hire senior bankers in select areas.”
“This year’s M&A boom has fueled security firm hiring.”
This year’s M&A boom – driven by low interest rates and deals totaling in the billions – has fueled security firm hiring, with J.P. Morgan a chief beneficiary. In 2016, hiring will primarily target M&A, and if the past is any indication, healthcare, technology and chemicals clients will receive the most coverage.
Pinto added that the bank would also be hiring dozens of MDs in the new year as well.
Wells Fargo in New York City
More than ever before, talented, high-production financial advisers are in demand. With revenue solid and so many wealthy clients open to cross-selling, banks have arrived at wealth management as the answer to the expense of the modern trading business.
“Big teams are worth paying for because they tend to bring everything when they move shops,” Mark Elzweig, an executive search consultant, told Bloomberg Business.
Wells Fargo & Co. along with Bank of America Corp. and several other big banks have announced their plans to hire in wealth management in 2016. As European firms continue to address problems on the home front, more American wealth management teams will see the ball in their court.