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Talking Wall Street & Legal Jobs

November 9, 2010

Crain's New York Business recently ran these stories:

  1. Wall Street Edging Back to Hiring Mode
  2. Wall Street Reforms Spur Talent Hunt.
  3. In Skittish Market, More (Law) Partners Jump Ship Sideways.

    1.  Wall Street Edging Back to Hiring Mode.   Signs are emerging that Wall Street is looking to staff up after a long, painful purge. 
  • Last week, Job Expo International Inc. held its first financial job fair in 2 years. More than 300 people paid the $10 admission to line up in the basement of a midtown hotel and present their résumés.  More tellingly, representatives from 23 employers, including Citigroup, Charles Schwab and Prudential, were on hand to greet them.
  • “Last year, employers just had no interest—I mean zero—in coming to an event like this,” says the fair's organizer, Bradford Rand, who plans to hold another next March. “The fact that they're here now means better times are ahead.”
  • Of course, attending a job fair is a long way from landing a job. And while a handful of financial institutions are hiring—with some even offering the industry's legendary eight-digit paychecks—the job market remains difficult for most would-be Wall Streeters, albeit less so than earlier this year.   [ Continue to Crains, 'Hiring Mode', 11/8 ]

    2.  Wall Street Reforms Spur Talent Hunt.   Congress has done its part, by approving the most sweeping rewrite of the legal rule book governing Wall Street and the financial services industry since Franklin Roosevelt's time.  Which means attorneys across the city are preparing for what they believe will be a raft of new opportunities for lawyers possessing the right résumés and professional experience.  “When this legislation became prominent last fall, recruit-ing calls went nuts,” says William J. Sweet Jr. of Skadden Arps Slate Meagher & Flom.   [ Continue to Crains, 'Talent Hunt', 11/1 ]

    3.  Skittish Law Partners Jump Ship, Sideways.  Sometime last year, the invisible hand of the legal market seemingly pressed “Go,” and senior-level partners started playing a game of lateral musical chairs that shows no sign of slowing down.  It's almost commonplace now for senior partners and heads of practice groups - pillars supporting big law firms - to switch professional allegiances, according to Arthur Ciampi, principal of Ciampi, which represents lawyers in partnership negotiations and separation agreements.   [ Continue to Crains, 'Law Partners', 11/1 ]