After a sluggish start to 2025, Wall Street’s biggest banks are ramping up senior hiring as renewed confidence in mergers and acquisitions (M&A) and IPO pipelines fuels optimism. Institutions like JPMorgan, Citigroup, and UBS, along with elite boutiques such as Evercore and Lazard, are leading a wave of recruitment aimed at positioning themselves for what could be a blockbuster second half of the year.
This hiring surge reflects the close link between deal activity and recruitment trends on Wall Street: as deal fees recover, banks are again willing to invest in senior talent.
JPMorgan Sets the Tone
JPMorgan, long seen as the bellwether of U.S. banking, hired more than 300 bankers between January and April 2025. The firm also named industry veteran Jerry Lee as global chair of investment banking, signaling a renewed commitment to strengthening its leadership ranks ahead of anticipated deal flows.
The hires are being justified by strong second-quarter results, where JPMorgan reported $2.7 billion in fees from investment banking, surpassing analyst expectations and underscoring the payoff of its aggressive strategy.
Citigroup’s High-Stakes Overhaul
Perhaps the most dramatic story comes from Citigroup, which has been undergoing a high-stakes turnaround under the leadership of Viswas Raghavan, who took charge of its investment banking arm in mid-2024.
- Citi has hired more than 15 senior executives from rivals such as JPMorgan, Goldman Sachs, and Morgan Stanley.
- These moves propelled Citi to 5th in global investment banking revenue and 4th in global M&A rankings in 2025.
- Investment banking revenue grew by 23% year-over-year, giving Citi one of its strongest performances in a decade.
This transformation highlights how aggressive recruitment can translate into market share gains in a competitive sector.
UBS, Goldman Sachs, and the Boutiques
Other players are not standing still:
- UBS continues to strengthen its U.S. banking presence following its Credit Suisse integration, with new hires in healthcare and tech coverage.
- Goldman Sachs reported a 26% surge in Q2 revenues, fueled by a 71% jump in M&A business, which is spurring further recruitment momentum.
- Boutique firms such as Evercore and Lazard are also scaling up. They are poaching high-level talent to capture niche opportunities and challenge the bulge bracket firms in specialized advisory mandates.
Deal Boom Fuels Recruitment Confidence
The broader dealmaking environment has provided fertile ground for this hiring push:
- M&A and IPO rebound: After a muted 2024, activity is picking up as corporate confidence improves.
- Fee growth: Major Wall Street banks reported a 7% year-over-year increase in fees in Q2 2025, totaling nearly $9 billion across the industry.
- Confidence cycle: As fees rise, banks are more willing to invest in leadership talent, creating a positive feedback loop between revenue and recruitment.
Strategic Implications for Recruitment
The surge in hiring underscores several key themes shaping Wall Street’s talent strategies:
- Senior Hiring Rebounds – Banks are once again betting on experienced leadership to secure big-ticket deals.
- Boutique Expansion – Smaller firms are scaling up to capture underserved niches, offering competition to larger banks.
- Talent Fluidity – Executives are moving across rivals, with Citi’s turnaround highlighting how recruitment strategy can reshape performance.
- Revenue-Recruitment Link – Rising fee income directly fuels hiring budgets, showing the cyclical nature of financial services employment.
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Search Senior Banking Jobs →Risks and Cautionary Notes
While optimism is high, some leaders are preaching caution. Wall Street bosses warn that the current rebound could be fragile, as macroeconomic uncertainties—trade disputes, interest rate policy, and geopolitical instability—still cloud the outlook.
If deal activity slows again, banks may face the challenge of having overextended recruitment budgets. This risk underscores the high-stakes nature of Wall Street’s hiring cycles: fortunes can turn quickly.
FAQs on Wall Street Hiring in 2025
1. Why are Wall Street banks hiring so many senior bankers now?
The rebound in mergers, acquisitions, and IPO pipelines has boosted confidence and revenues, enabling banks to reinvest in senior leadership talent to secure future deals.
2. Which banks are leading the recruitment drive?
JPMorgan, Citigroup, and UBS are spearheading the trend, while Goldman Sachs is also expanding. Boutique firms like Evercore and Lazard are aggressively competing for senior hires.
3. What impact has this had on revenues?
In Q2 2025, major Wall Street banks reported nearly $9 billion in investment banking fees, with Goldman Sachs leading the pack with a 71% surge in M&A revenues.
4. Could this hiring surge backfire?
Yes. If dealmaking momentum stalls due to macroeconomic shocks, banks could face bloated staffing costs and pressure to scale back. That risk makes this recruitment wave both an opportunity and a gamble.
Final Thoughts
The Wall Street hiring surge of 2025 reflects renewed confidence in U.S. dealmaking. As banks compete fiercely for talent, senior hires are becoming both a strategic weapon and a symbol of financial strength.
But this is a calculated gamble: if the rebound holds, firms like JPMorgan and Citigroup will be well-positioned to dominate. If it falters, today’s recruitment boom could turn into tomorrow’s overstaffing headache.
Either way, one thing is clear: Wall Street is back in hiring mode, and the competition for top talent has never been fiercer.
