Banks reported 77 percent revenue growth in 2010, according to data compiled by Bloomberg. Improved asset quality and lower loan losses contributed to revenue growth, according to a report last week from Bank of America, based in Charlotte, North Carolina, allocated $ 28.4 billion of 2010 that 41 per cent.
“There was a good talent out there at the right price,” said Eric Moskowitz, directo research in global in Los Angeles Executive Search company Korn / Ferry International. “Many banks have cut quite deep in 2008 and 2009, and they have to staff up.”
AmEx Number of employees
JPMorgan, the second largest bank, may file their annual Form 10-K later today. Data accompanying the fourth-quarter report the company of New York in January showed 239,831 employees, about 8 percent from a year earlier.
American Express, the largest issuer of credit cards by the purchase, increasing its workforce by 2700, or 4.6 percent, to 61,000 in 2010, according to the filing today in the company of New York. In 2009, staff was reduced by 12 percent. Citigroup Inc, the third-largest bank by assets, cut jobs in 5300, or 2 percent, to 260,000 in 2010. In New York, Citigroup reduced, as she recovered from the financial crisis.
Banks are adding staff to help ensure that they are in compliance with new laws such as the Dodd-Frank repairing the financial industry, which took place in July last year, “says Moskowitz. The act creates a consumer bureau at the Federal Reserve System, Board of regulators to monitor companies for systemic risk to the economy and the mechanism for the elimination of large financial firms whose collapse could jeopardize economic stability.