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Despite plummeting investment banking revenues, Canadian securities companies probably won’t cut jobs deeply, according to the Investment Industry Association of Canada. In its second-quarter report, the association said 175 additional jobs were added in the securities industry during the quarter. The industry gained jobs even while investment banking revenues plunged 33 percent to $1.7 billion for the first six months of 2008, compared with $2.5 billion in the first half... Read more

HSBC Securities hired Evan Hazell, a top energy investment banker, to be a managing director in its Calgary office, reports the Globe and Mail. Hazell leaves Citigroup, which had scaled back plans to expand its energy coverage because of the credit crisis. Before joining Citi, Hazell worked at Harrison Lovegrove, an advisory firm specializing in energy, and RBC Dominion Securities. Hazell is one of several new additions at HSBC, which has... Read more

Chicago investment firms are finding tough times on Wall Street present a ripe opportunity to expand. Despite large swaths of layoffs in New York, firms like Mesirow Financial are in a recruiting mode, according to the Chicago Tribune. The firm is in talks with more than 30 financial professionals as it seeks to hire traders, bankers and investment managers. It's already hired several former Bear Stearns executives, including Dominick Mondi, former... Read more

The Institute of International Finance is recommending Wall Street' securities firms make their pay practices more transparent and tie compensation more to market risk. Earlier this year the group was reported to be drawing up a wide-ranging recommendation to revamp, among other things, the way bonuses are awarded. Its 200-page report claims to establish "best practices" for banking industry compensation. By aligning pay with risk-adjusted performance and adopting the report's... Read more