Only a year ago the stock broking firms were brutally firing their employees, but the last 6 months have given the broker firms new blood.
Hagströmer & Qviberg, the Swedish broking firm, is one of the firms looking to hire new employees.
“The customers have gotten their joy back. It does not mean that the road is paved with gold like in 1999, but it looks much better now than during the last three years,” said Patrick Enblad, CEO at Hagströmer & Qviberg to the Swedish financial paper Dagens Industri.
Enblad stated that stock broking firms are looking for a different type of qualifications now than what they did three, four years ago. The focus now is idea based analysis, and products the customers are willing to pay for.
It has not been common to charge for analyses in the broking business. It has been seen as a service to the customers; however, the practice has been criticized because of the many broking scandals the last couple of years. Some have claimed the practice has not been independent enough because of its close ties to the broking firms.
Alfred Berg is hiring
Alfred Berg, owned by the Dutch bank ABN Amro, has also started to hire again.
“We have seen more optimism. The orders are ticking in and the volume is increasing. We are probably going to continue to hire within corporate finance as well as on the share side,” said Robin Ahlstrøm, CEO at Alfred Berg.