Almost half the bankers in the City of London who lost their jobs during the downturn over the past couple of years have been rehired, according to figures compiled by outplacement specialists Penna Group.
With banks actively hiring again for the first time in three years, Penna says that 47 per cent of those made redundant found new jobs in banking since thew climate began to pick up at the beginning of December 2003.
It adds that with the City anticipating a revival in merger and acquisition activity, banks are particularly keen to rebuild their corporate finance divisions.