Back office hiring drives rise in finance vacancies and salaries

 
Tim Wallace
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SPECIALIST back office roles like compliance and IT positions are in high demand, driving an improvement in the City jobs market last month, according to a recruitment study out today.

Investment managers are also much sought after in the wake of new rules on financial advice.

June saw a 21 per cent rise in vacancies compared with May, Morgan McKinley reported, while the number of professionals actively seeing a new job increased 31 per cent.

Although the market remains weaker than it was this time last year – vacancies are down 22 per cent compared with last June – demand for specialist skill sets continues to rise.

“The compliance and audit markets continue to be active, and demand is coming from certain infrastructure functions within the asset management industry,” said Morgan McKinley’s Hakan Enver.

“The impact of the retail distribution review has led to a greater appetite from investors and intermediaries seeking information from their money managers and this is something we expect to continue.”

Such demand for specialist positions led to a 15 per cent pay rise for staff entering new jobs.