The City has shrugged off the ongoing job cuts at the UK’s main investment banks to see employment surge 17 per cent in a year, according to a report published today.
The report, by recruitment firm Astbury Marsden, said just over 3,000 jobs were added to City payrolls in February, up from the 2,500 created during the same period in 2014.
The increase comes despite the continuing retrenchment of Britain’s biggest investment banks, which have seen heavy job losses in the wake of the financial crisis.
The robust hiring is being driven by the strong global equities market which has seen indexes hitting record highs, as well as better than expected economic growth in the US and Europe.
Astbury Marsden expects the positive trend to continue in the coming months as the investment banks sign-off their head-count for 2015.