NEW DELHI, June 15 (PTI): Thousands of direct and indirect jobs are set to be created in the next few months as retail brokerages are planning to hire more people to service new clients and drive business growth as the stock market shifts gears and trading volumes rise.
After a torrid phase that saw the 0.1-million-employee strong domestic broking industry lay off staff, cut costs and adjust to market conditions akin to a drought, the new found euphoria in stocks has helped the brokerages consider ramping up headcount as volumes doubled in a short time and indices vaulted to records, say top officials.
Ullhas Pagey, Head HR at Sharekhan said: "Our current head count is close to 3,200 and over a period of time we may add 10 per cent of manpower strength in a phased manner."
As the capital markets are coming back on track, there is a significant increase in client activity. The number of account opening requests have also gone up. Broking companies are likely to expand their customer acquisition and dealing teams. The total number of brokers operating in cash segment is about 9,500.
Companies like Anand Rathi and Motilal Oswal appear bullish as investors have once again started to slowly make a beeline to markets.
"During the bad phase, we scaled up and prepared ourselves for the upturn. It's happening now. Institutions were trading but the retail segment is also coming back. This is a positive sign for the industry. Existing and new players will do well," said Anand Rathi, founder & chairman, Anand Rathi Financial Services.
Brokers step up hiring as bulls fire up markets
FE Team | Published: June 16, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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