LONDON – British investment banks are luring back traders and analysts they lost to brokerage firms during the credit crisis, offsetting lower bonuses by as much as doubling base salaries.

“The banks are killing the boutiques,” said Daryl Bowden, co-chief executive officer of ICAP’s equities unit in Europe and Asia. The London-based firm is the world’s largest broker of trades between banks.

“They’re doubling salaries and offering above-average compensation. Banks today have limited risk so people can work there without fear.”

Firms including UBS and Barclays are adding traders and sweetening pay packages to win back employees, and the British 50 percent bonus tax won’t slow the flow of workers back to the banks because it’s a one-time levy, recruiters said.

The hires show how London’s investment banks are regrouping after boutique firms poached traders during the credit crisis with the promise of greater job security and a bonus.

London’s investment banks cut about 49,000 jobs and logged more than $560 billion of writedowns during the credit crisis, according to data compiled by Bloomberg. Brokers added sales traders and analysts to win clients from rivals that had received taxpayer bailouts.

“We have begun to see a boomerang effect,” said Robert Iati, global head of consulting at research firm TABB Group in New York. “The larger banks are feeling a bit more secure in hiring back some of those traders from the smaller guys.”