Investment Banks May Start Hiring in Q3

Investment banks are having a strong year.

After taking belt-tightening steps last year and announcing cost reduction plans this year, the coronavirus pandemic and subsequent business shutdowns worried the industry that more draconian action might be coming.

That prospect now is much less likely. Most investment banks had a strong 1st quarter and are on track for an equally good Q2.

Reporting on positive financial news from three of the largest global banks, eFinancialCareers predicted that as long as conditions continue to improve “banks may indeed put their heads above the parapet and start tentatively implementing hiring plans later this summer.”

Writer Sarah Butcher’s optimistic prediction follows reports last month at Bernstein’s 36th Annual Strategic Decisions Conference and Deutsche Bank’s Global Financial Services Conference that banks are seeing good, even strong earnings performance.

Jamie Dimon, chairman and CEO of JP Morgan Chase said the firm’s Q2 trading returns are as strong as they were in the first quarter when they were up 32% over Q1 last year.

The eFinancialCareers report also said Deutsche Bank’s CEO Christian Sewing said sales and trading revenues were continuing to show the same strength in April and May as in Q1 when they were up 13%.

Goldman Sachs, which saw its Q1 net earnings up 89%, said it was meeting the expectations set out in January and had no plans to do more belt-tightening than it originally announced.

“Despite everything,” said eFinancialCareers, “ 2020 is turning out to be an OK year for investment banks.”

Photo by MayoFi on Unsplash

#WeAreGreenKey: Spotlight on Matt Schirano
General Interest Green Key News Information Technology Leadership + Management Worklife

#WeAreGreenKey: Spotlight on Matt Schirano

Green Key Unlocked: The Effect of Tech Layoffs
General Interest Green Key News Information Technology Leadership + Management Worklife

Green Key Unlocked: The Effect of Tech Layoffs

How to Prepare for a Recruiter Interview with a Staffing Agency
General Interest Green Key News Human Resources Leadership + Management Worklife

How to Prepare for a Recruiter Interview with a Staffing Agency

5 Ways to Make Your Job More Meaningful
General Interest Green Key News Worklife

5 Ways to Make Your Job More Meaningful

Minimum Wage Increases in 2023
Accounting + Finance Architecture + Engineering Financial Services General Interest Green Key News Healthcare Human Resources Information Technology Leadership + Management Legal Support Marketing Technology Pharma Professional Support Worklife

Minimum Wage Increases in 2023

2023 Recruitment Trends
General Interest Green Key News Human Resources Leadership + Management Worklife

2023 Recruitment Trends

#WeAreGreenKey: Spotlight on Carissa Iacona
General Interest Green Key News Marketing Technology Worklife

#WeAreGreenKey: Spotlight on Carissa Iacona

New Year’s Corporate Resolutions
General Interest Green Key News Leadership + Management Worklife

New Year’s Corporate Resolutions

Wrapped Up: #WeAreGreenKey 2022
Accounting + Finance Architecture + Engineering Financial Services General Interest Green Key News Healthcare Human Resources Information Technology Leadership + Management Legal Support Marketing Technology Pharma Professional Support Worklife

Wrapped Up: #WeAreGreenKey 2022

#WeAreGreenKey: Spotlight on Madison Foery
General Interest Green Key News Marketing Technology Worklife

#WeAreGreenKey: Spotlight on Madison Foery

What to Remember When Onboarding New Employees
General Interest Green Key News Human Resources Worklife

What to Remember When Onboarding New Employees

#WeAreGreenKey: Spotlight on Zach Miller
General Interest Green Key News Information Technology Worklife

#WeAreGreenKey: Spotlight on Zach Miller

How to Spark Creativity in Your Employees
Creative General Interest Green Key News Worklife

How to Spark Creativity in Your Employees

#WeAreGreenKey: Spotlight on Jeff Blum
Accounting + Finance Financial Services General Interest Green Key News Worklife

#WeAreGreenKey: Spotlight on Jeff Blum

Green Key Unlocked: LinkedIn & Resume Green Flags
General Interest Green Key News Human Resources Leadership + Management Worklife

Green Key Unlocked: LinkedIn & Resume Green Flags

How to Handle Holiday Stress & Burnout
General Interest Green Key News Leadership + Management Worklife

How to Handle Holiday Stress & Burnout

#WeAreGreenKey: Spotlight on Lauren Scutero
General Interest Green Key News Pharma Worklife

#WeAreGreenKey: Spotlight on Lauren Scutero

#WeAreGreenKey: Spotlight on Anthony Agosto
Accounting + Finance General Interest Green Key News Human Resources Leadership + Management Worklife

#WeAreGreenKey: Spotlight on Anthony Agosto

Shop for Jobs this Holiday Weekend
General Interest Green Key News Human Resources Worklife

Shop for Jobs this Holiday Weekend

Thankful for Our Community this Thanksgiving
General Interest Green Key News Leadership + Management Worklife

Thankful for Our Community this Thanksgiving

Latest Blog Posts
View All Posts
#WeAreGreenKey: Spotlight on Matt Schirano

#WeAreGreenKey: Spotlight on Matt Schirano

As the youngest Partner in Green Key history, Matt reflected on his years at the firm and the influence Dan...
Read More
Green Key Unlocked: The Effect of Tech Layoffs

Green Key Unlocked: The Effect of Tech Layoffs

Companies such as Microsoft and Google have cut thousands of positions in the last few months. In an effort to...
Read More
How to Prepare for a Recruiter Interview with a Staffing Agency

How to Prepare for a Recruiter Interview with a Staffing Agency

Because the basis of your job will revolve around communication and sourcing, you should be going into this conversation with...
Read More