Alain Tanugi, Chairman, TRANSEARCH International Partners, was recently interviewed on CNBC's Headhunting Report with Ross Westgate. Following the credit crunch Alain provided his opinion on banks hiring plans.

Alain is reasonably hopeful for 2008, suggesting that other sources of revenue for the major financial institutions will provide a buffer and lead to a continuity in the flow of hiring.

Asked how the financial services were reacting to the credit crunch Alain replied 'Some of them have put a total freeze on their hires. Others are just pursuing already long assignments for certain fields. But, for the more hurt fields and sectors they are on the layoff approach or on a total freeze just waiting to see exactly what is going to happen to the markets in the near future'.

Alain Tanugi has over 30 years experience in Executive Search. You can discover more about Alain Tanugi at TRANSEARCH International's executive search firm website (http://www.transearch.com) and see the full interview with Ross Westgate at the CNBC website (http://www.cnbc.com/id/15840232?video=545915486).