BNP Paribas is looking to add two or three traders and a few salesmen to its high-yield trading and sales teams, according to a market source. BNP currently has about five high yield traders globally. The move comes at a time when the high-yield market is booming, with spreads tighter across the market and investors more willing to invest in the market as corporate credit quality improves.
The source notes that it is no coincidence that the hiring plans come now, since the general trend calls for hiring at the highs and firing at the lows of the market. He noted that he expects other high-yield trading teams to also add personnel given the white-hot market.