Many banks and financial institutions across the country are seeing increases in hiring in many different parts of their businesses.
The Wall Street Journal reports that many banks are hiring bankers to help them strengthen their foreign-exchange (FX) operations. These banks include Morgan Stanley and Bank of America. In addition, many banks are looking to hire salespeople.
An executive recruiter said that now is an excellent time for companies to be looking for strong financial talent.
“For banks that are interested in investing in FX platforms, it’s a good time because you can attract people who are unhappy,” he told the news source.
Morgan Stanley announced earlier this year that in 2010, it increased its FX staff by 40 percent, according to the Journal.
The news source reports that often times FX operations help to prop up lower-performing departments within banks.
The increase in banking hiring could be construed as indicative of the economy as a whole as the Bureau of Labor Statistics recently announced that 34 states saw their unemployment rates drop in March. Seven states experienced increases, while the remaining nine saw their unemployment figure hold steady.