There is an apocryphal anecdote about a chief executive of a European bank and a trip to the trading floor that pretty much sums up what has happened to Wall Street staffing since the financial crisis.

The story goes like this: The bank had just cut a bunch of traders, and the CEO happened to walk across the trading floor where many of those staff once worked. To his surprise, the floor still looked pretty full.

He turned to a colleague, and said something to the effect of: “Who are all these people? I thought we just fired a bunch of traders?”

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Source : BusinessInsider.Com