Where the Jobs Are For Wall Street Pros

As the latest crisis on Wall Street unfolds, recruiters say their phones are ringing off the hook with anxious finance professionals on the line.

The sale of Merrill Lynch & Co. and the bankruptcy-court filing of Lehman Brothers Holdings Inc. have prompted workers from those firms to launch immediate job searches. Recruiters say newly displaced finance professionals should consider other types of employers or fields, and consider opportunities at smaller banks -- which are ramping up hiring right now.

Case in point: On Monday, the number of ads at WallStJobs.com for positions at small and middle-market firms shot up by more than 25%, says Robert Graber, chief executive officer of the New York-based job site. Most of the ads were from small and midsize investment banks and hedge funds that are 'taking advantage of the turmoil to attract candidates who would normally only move to large institutions,' Mr. Graber says. 'They almost seem poised to acquire the newly available talent that's out there.'

So far this year, the financial sector has announced the largest number of job cuts, roughly 103,000 positions, followed by the auto industry, reports Challenger, Gray & Christmas Inc., a global outplacement consultancy. These losses mainly reflect downsizings at top-tier investment banks. In contrast, many small and middle-market banks, as well as employers specializing in other parts of the financial-services industry, say they are expanding and are eager to capitalize on the sudden outpouring of job hunters.

Among those employers is Gerstein, Fisher & Associates Inc., an independent advisory firm in lower Manhattan with plans to nearly double its 25-person work force over the next 12 months. 'This is the biggest opportunity we've ever had,' says Gregg S. Fisher, president and chief investment officer, of the flood of high-level, quality candidates who might consider a small firm. He is looking for people who have strong skills in business development, relationship management, analysis, research, trading and operations. 'We've been really untouched by all the stuff we're hearing about,' he says.

There is a potential downside to moving to a smaller firm. 'Typically, initial cash compensation will be lower at smaller firms; however, there is often a greater opportunity to negotiate equity,' says Deborah Markus, executive director at Gerson Group, an executive-search firm. There may be more of a salary setback for more junior employees, particularly if they change functions in the new role.

Mr. Fisher concedes he can't pay quite as much as a big investment bank; but over time, people he has hired away earn the same or more than they did at their previous big-bank jobs. He also says working for a small company has other rewards -- like the opportunity to interact directly with clients and, at least at his firm, greater long-term job security.

Another small firm looking to scoop up displaced talent from Lehman or Merrill is Kaufman Brothers, a 60-person investment bank in midtown Manhattan. 'We're excited about the opportunity to meet dynamic professionals who are looking for a calm port in the storm at a growing [company],' says Robert Kaufman, president and director of research. This week, the company increased the number of job ads it placed on job sites such as efinancialcareers.com and theladders.com.

Some companies see opportunity in a downturn -- which could mean a new path for displaced bankers. Johnson Capital, an Irvine, Calif., investment bank two months ago created a distress-services division in its Denver office, to aid financial institutions with troubled commercial real-estate loans. 'We're looking for people that can create value and take advantage of distress,' says Guy Johnson, president of the 125-employee firm, which plans to expand up to 20% in the next 12 months.

There are other options for ousted finance professionals that can be an easy skills transition, says Roy Cohen, an executive coach in New York. Jobs in these areas aren't expanding like wildfire, he says, but they are more plentiful and show more growth than in the beleaguered investment-banking sector:

- Financial communications: Consulting and investor-relations firms employ professionals who can assist clients in preparing and publicizing their financial news. If you're an experienced financial analyst, you are likely adept at determining what information is appropriate to divulge, since you've been on the receiving end of that news, he says.

- Wealth management: For traders, Mr. Cohen suggests looking for opportunities on the buy-side at hedge funds, insurers and investment-management firms. The analytical and quantitative skills traders bring to the table, along with their inherent knowledge of capital markets, poise them for success in evaluating securities on behalf of institutions and private investors, he says.

- Risk management: 'Risk management has a lot to do with identifying potential problems and that's what traders are always doing instinctively,' says Mr. Cohen. The Bureau of Labor Statistics estimates the number of risk-management-related financial jobs will increase 13% by 2016.

'People are going to have to be creative and take a broad approach to their search,' says Russ Gerson, chief executive officer of Gerson Group.

Laid-off finance experts and those anticipating pink slips should be diligent, even if they've already heard from a recruiter, advises Alex Alcott, partner and head of the U.S. investment banking practice at search firm Heidrick & Struggles in New York. 'There's going to be a flood of people on the Street, so if you can secure something sooner than later, you're going be a lot better off,' he says.

随着华尔街危机愈演愈烈，招聘者说，他们的电话几乎被急着找工作的金融界人士打爆了。

美林公司(Merrill Lynch & Co.)被出售和雷曼兄弟控股公司(Lehman Brothers Holdings Inc.)申请破产逼得这些企业的员工立马出去找工作。招聘者认为，这些新近离职的金融专业人士可以考虑去其他行业或领域工作，而那些正在热火朝天招兵买马的小型银行也是不错的选择。



Getty Images/Shaun Curry

9月16日，一名女子端着箱子离开雷曼兄弟位于伦敦

东部的欧洲总部大楼这里有个现成的例子：2008年9月22日，WallStJobs.com网站上的中小企业招聘广告数量激增25%以上，这家纽约招聘网站的首席执行长罗伯特•格莱伯(Robert Graber)说道。大多数职位都是一些中小规模投资银行和对冲基金提供的，这些公司"利用市场大乱的机会，吸引那些本来只会选择大公司的精英人士前来加盟，"格莱伯说，"它们彷佛早就做好准备，就等着那些刚刚失去工作的人才乖乖上门。"

据一家全球再就业咨询公司Challenger, Gray & Christmas Inc.称，2008年至今，美国金融行业的裁员数量居各行业之首，约为103,000人，排名第二的是汽车制造业。裁员的主要是一些大型投行，而许多中小银行和其他金融服务业的公司表示，他们正在大举增员，急切地想利用这次突如其来的裁员风暴，获取所需的优秀人才。

位于曼哈顿下城的一家独立咨询公司Gerstein, Fisher & Associates Inc.就是其中之一，这家企业打算在未来12个月内，让职员人数从现在的25人增加近一倍。"这是前所未有的大好时机，"公司总裁兼首席投资长格莱格•费舍(Gregg S. Fisher)谈到现在有大量高水准的金融专业人士涌入就业市场，而且可能愿意考虑在小公司工作。他想要找的是那些在业务开拓、客户关系管理、分析、研究、交易和操作方面实力很强的人。"我们认为，现在市场上的恐慌消息不会真的对我们未来的发展产生影响。"

去小公司工作可能有个问题。"一般来说，小公司的起薪较低，但股权激励方案往往更具吸引力。"猎头公司Gerson Group的执行董事黛伯拉•马可斯(Deborah Markus)说。资历较浅的新进员工薪水降幅可能更大，尤其是那些岗位职责发生变化的人。

费舍承认，他给出的薪水没有大投行那么高，但时间一长，员工的收入能持平甚至超过他们以前工作的大公司。他还表示，在小公司工作也有其他好处，比如能直接和客户打交道，以及一份更稳定的工作，至少在他的公司是这样。

另一家想趁机接收雷曼和美林离职员工的是Kaufman Brothers，这家小公司位于曼哈顿中城，有60名员工。"我们非常兴奋，因为有机会招聘到一些愿意把成长型公司作为宁静的避风港安心工作的专业精英。"公司总裁兼招聘项目主任罗伯特•考夫曼(Robert Kaufman)说道。本周，这家公司已经增加了在efinancialcareers.com和theladders.com等求职网站的招聘广告数量。

有些公司把市场低迷视为赚钱的大好时机，从而给一些离职的投行人士提供一个新的职业生涯。加州尔湾投资银行Johnson Capital两个月前就在丹佛开设了一个不良贷款服务机构，专门帮助金融机构处理不良的商用房地产贷款项目。"我们在寻找那些能创造价值、从危机中获利的人才。"公司总裁盖伊•约翰逊(Guy Johnson)说道。这家企业现有125名员工，并计划在未来12月内增员20%。

广告被迫离职的金融从业人员还有其他的职业选择，而且角色转换应该比较容易。纽约一位高管培训师罗伊•科恩(Roy Cohen)说道。他列出以下一些行业，这些领域的就业机会不是很充裕，但总比惨淡的投行业要好得多，而且成长机会也不错。

投资者沟通：投资者关系咨询公司在招聘那些能帮助客户准备和发布财务信息的专业人士。如果你是经验丰富的金融分析师，就可能知道如何发布信息更为妥贴，因为你以前就是专门负责收集和分析这类信息的人。

财富管理：科恩建议交易员们去处于买方地位的对冲基金、保险公司和投资管理公司找工作。科恩说，交易员所具备的量化分析技巧以及对资本市场的深入了解有助于他们在为机构和私人投资者分析证券的投资机会时取得成功。

风险管理："风险管理的重要职责是发现潜在的问题，而这正是交易员长期以来锻炼出来的一种本能。"科恩说道。美国劳工部下属劳动统计局(Bureau of Labor Statistics)预计，到2016年，金融机构的风险管理类从业人员将增加13%。

"人们在找工作时，脑子要活一点，要从多方面想办法。" Gerson Group的首席执行长罗斯•吉尔森(Russ Gerson)说道。

即使已有招聘方流露出兴趣，离职的金融专家和那些预期自己会失业的金融从业人员也一定要积极行动起来，纽约一家职业介绍公司Heidrick & Struggles的合伙人兼美国投行市场部负责人埃里克斯•艾尔科特(Alex Alcott)建议道。"华尔街涌出大量的失业者，如果你能早点确保一份新工作，那就能比其他人好很多。"
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