March 14, 2011

Bloomberg LP, the financial market data and information giant, is adding another 500 research and development (technologists) positions globally and is expanding total staff in Manhattan by 1,600 in 2011, according to an article in Crain's New York Business.

This recent addition to the company's workforce is a continuation of an expansion that began in 2008 -- at the height of the financial crisis -- and continues to this day. Since 2008, Bloomberg has added around 3,000 new positions, with most in technology (R&D) and sales for Bloomberg Professional service, says the Crain's article.

In a soon to be published article on Wall Street & Technology, Thomas F. Secunda, Founding Partner, Global Head of Financial Products and Services, Bloomberg, discusses Bloomberg's hiring streak:

"Over the last two years, we took a view during the turndown that it was a great opportunity for us to run some risk and to give up some growth -- P&L growth, not product growth -- to bring in new people," Secunda says. "So we added a lot of technologists, making it our biggest growth years ever. We added technologists from the Street and a lot of people out of college.

"We have about 12,500 employees including a research and development staff of about 3,000 people," Secunda said at the time of the interview. "And it seems like we're always hiring because there are opportunities here."

Always hiring? So it seems. In the current market, where many financial firms are simply holding the line on headcount, it is nice to hear there is some job growth in NYC. Now, with today's news, Bloomberg will have approximately 12,900 employees (with 3,000 dedicated to R&D.

The article on Bloomberg LP will be published on wallstreetandtech.com during the week of March 21 and it will also appear in the April 2010 print issue.

ABOUT THE AUTHOR
Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology.