Hiring for emerging markets and high-yield securities positions is heating up on Wall Street again, according to Joan Zimmerman, principal of executive search firm GZ Stephens. "Wall Street firms have realized they may have cut too deep, when these markets got into trouble last year, Ms. Zimmerman said. "So recruiting has suddenly ignited again in the areas of high yield and emerging markets, particularly the Latin American sector. Ms. Zimmerman said her firm is getting many requests for searches from sell side firms, "and we know of others that were not involved in. As these markets have seen a return to profitability, companies have realized they may be understaffed. The beneficiaries of the trend are the same people the firms fired last year, who are now getting job offers again. Most of the searches are occurring in sales, trading and research, she said.