Foreign banks in Japan may resume hiring this year to advise local clients taking advantage of the stronger yen to acquire companies abroad, while cutting jobs for other investment banking services, a recruitment firm said.
"Wall Street firms are largely lacking workers for M&A" in Japan after paring staff since the 2008 global financial crisis, said Katsunobu Komizo, chief executive officer at Executive Search Partners Co., the country's biggest recruitment company focusing on investment banks. "They may lift their hiring freeze sometime soon and recruit people who are good at execution."
Goldman Sachs Group Inc., Bank of America Corp. and Deutsche Bank AG are among overseas financial firms that cut about 2,000 jobs in Japan since June 2010 as the record earthquake and Europe's debt crisis roiled markets and dissuaded companies from raising funds. (BusinessWeek)
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