Surge in City hiring as financial firms back the economic recovery

Tim Wallace
Follow Tim
THE BOOMING British economy has prompted banks and other finance firms to step up hiring, according to figures out today from recruiters Morgan McKinley.

It has seen a 67 per cent rise in the number of jobs on its books in the last year, to 8,955 in April.

The surge contrasts with a subdued performance in the prior year when firms were still worried about the possibility of a triple-dip recession.

“While investment bank profits are down in the majority of organisations, revenues are up within their respective asset management, wealth and retail arms, which are in a much better shape, with all of these areas experiencing a healthy increase in job flow,” said Morgan McKinley’s Hakan Enver.

By job type, risk and compliance positions are in highest demand. In particular the wave of rules on derivatives and funds has led to more senior staff being taken on.