Return Of The Titans?

Morgan Stanley is hiring! The investment banking giant is looking to scoop up between 300 and 400 sales and trading staff globally in what could be the beginning of a renewal on Wall Street, reports Forbes.com.

For a recession that kicked off to the beat of investment titans like Lehman-Brothers crashing to the ground, hiring sprees could mean that levity is on the rebound downtown. Greg Ghodsi, head of 360 Wealth Management Group at Raymond James says the hirings also show the market’s tolerance for risk is on the upswing.

One can only hope...

In June, Morgan Stanley was one of 10 major banks to repay its share of the government bailout money doled out by the Troubled Asset Relief Program (TARP) signed by President Barack Obama. Morgan Stanley had received $10 billion as part of the $700 billion program.

The bank has reportedly filled about half of the new positions so far and expects the rest of the new recruits to be on board by the end of the year. The Morgan rookies, hired at recession-low wages, will work in foreign exchange, emerging markets, sales and equity derivatives.

Photo by Darragh Worland.