New York Fed Aggressively Hiring Traders: Report
(CNBC)The Federal Reserve Bank of New York has embarked on a hiring spree, seeking to recruit traders to manage its bulging securities holdings, the Financial Times reported Tuesday.
The New York Fed plans to raise the number of employees in its markets group to 400 by the end of then year, compared with 240 at the end of 2007, the paper said on its Web site.
The Fed is thus becoming one of Wall Street's most active recruiters of financial talent, as most of its new staff come from the private sector. In contrast, many banks, hedge funds, private equity companies and rating agencies are cutting jobs.
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