City job creation is on the climb thanks to a revival in hiring on banks’ fixed income, commodities and currencies trading desks (Ficc).
There were 4,100 new City roles created in May, up 52 per cent on the same month last year, according to figures released today by recruiters Astbury Marsden.
It also marks a slight rise on April’s 4,070 jobs.
Ficc jobs bore the brunt of job cuts over the last two years as their profitability was eroded by tougher new capital adequacy requirements and declining bond market volatility, Astbury Marsden said.
Fixed income refers mostly to corporate and government bonds.
Expectations of strong merger and acquisition activity also lifted hiring.
“Revenues are growing in certain areas of Ficc, and the increased positivity on the trading floor is creating more opportunities for specialists in these areas than we have seen for some time,” said Astbury Marsden managing director Adam Jackson.
“Hiring in compliance teams remains strong, though it is now targeted to fill very specific needs rather than the wholesale bulking up that was needed to cope with the complete transformation of the regulatory landscape post financial crisis.”