Who says you can't go home again? Many people who worked in the emerging markets and high-yield bond areas of Wall Street firms -- who were fired when those markets crumbled last year -- may be returning soon.
According to Joan Zimmerman, principal of New York-based executive search firm GZ Stephens, hiring for emerging markets and high-yield securities jobs is heating up again, with many of the people who were fired last year getting calls about coming back to work on the Street.
"Wall Street firms have realized they may have cut too deep," when the markets had problems last year, she said. "So recruiting has suddenly ignited in the areas of high-yield and emerging markets, particularly the Latin American sector." Asia is likely to be next in line for a hiring rebound, she added.
Ms. Zimmerman said her firm is getting many requests for searches from sell-side firms "and we know of others we're not involved in. As these markets have seen a return to profitability, companies have realized that they may be understaffed."
The hot areas for searches now are sales, trading and research, she said.