Hiring on hold as banks battle virus impact

By Owen Sanderson
10 Mar 2020

Investment banks are said to be freezing hiring plans in capital markets, as the impact of the coronavirus epidemic slashes new issuance volumes and expectations for the year ahead. Some institutions are also said to be using the virus as an excuse to push through planned cuts to banking businesses.

One headhunter said some existing hiring mandates had “melted away”, while other potential hiring was hard to discuss given the market backdrop, which was drawing management attention away from future staffing strategy. Some institutions have formal or informal hiring freezes in place, in anticipation of skinny revenues ahead, ...

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