The job market is grim on Wall Street. Trading desks are shrinking, hiring is flat, even incentive pay is taking a hit. Except in one little corner of the financial world, where managers cant read resumes fast enough.
The turnaround expert is in hot demand.
With company after company in oil, coal, retail and other industries in distress — the Bloomberg Bankruptcy Index is at a six-year high — business is booming. Banks are assembling or expanding teams, with Lazard, Guggenheim Partners, Perella Weinberg Partners and AlixPartners all hiring, often within a circle of familiar faces. Lazards global restructuring head, David Kurtz, just tapped Ken Ziman of Skadden Arps Slate Meagher & Flom; they worked on Millennium Healths bankruptcy last …
Read the full article at: http://www.bloomberg.com/news/articles/2016-06-15/for-one-breed-of-wall-street-bankers-business-is-booming-again