City banks in hiring spree
BANKING and finance job vacancies in the City have risen by more than a third in the last three months compared to the same period in 2010, with equities desks leading the hiring drive.
New equities positions jumped by almost 150 per cent over the year, with a steadier deal pipeline meaning that capital markets roles also more than doubled, according to data from eFinancialCareers’ quarterly jobs barometer.
But the rate of growth slowed compared to the previous quarter, with new vacancies up just 10 per cent from January’s figures, compared to 30 per cent in the previous quarter.
Opportunities in trading, derivatives, commodities and private equity outperformed the slowdown, all rising more than 40 per cent over the preceding quarter. But they were offset by slower growth in the professional services and wealth management sectors, which each posted an increase of just nine per cent.
“In spite of the poor set of first quarter figures reported by UK banks, employment numbers are up in the City,” said eFinancialCareers’ James Bennett. “Recruitment activity has been particularly brisk in certain areas – such as trading – post the bonus season.”