The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here

Less Ads, More Data, More Tools Register for FREE

London finance jobs rise on firm bank results-research

Tue, 07th May 2013 12:34

* Employers feeling "cautiously optimistic"

* Applicant numbers fall as bonuses shrink

LONDON, May 7 (Reuters) - Jobs available in London'sfinancial district jumped by almost one fifth in April asemployers took heart from strong results at banks and someconfidence returned after the Cypriot banking crisis, researchshowed on Tuesday.

More than 2,600 new roles were created last month comparedto 2,190 in March, when the Cyprus banking crisis hit the hiringmarket, according to London-based financial services recruiterAstbury Marsden.

"Those fears have now subsided, and boosted by therelatively strong figures for the first three months of 2013from a number of investment banks, employers are feelingcautiously optimistic," said Astbury Marsden Chief OperatingOfficer Mark Cameron in a statement.

Last month British bank Lloyds Banking Group saidits first-quarter profits trebled, while Barclays reported an 11 percent rise in profits from its investmentbanking division in the first three months of 2013.

London's banks and financial services companies have slashedthousands of jobs in recent years following a wave of bankingscandals and a long-running recession. However recent data showconfidence is slowly returning.

April's figure, though down 25 percent year-on-year, was thehighest since October 2012.

The research found that demand for workers was particularlyhigh in compliance-related areas as banks reshape theirbusinesses to meet the terms of regulations imposed byauthorities following the financial crisis.

This supports the findings of a separate survey releasedlast month which showed that nearly nine in 10 financialservices executives around the world are struggling to recruitstaff who can interpret new rules.

While jobs were on the rise in April, applicant numbers weresteady, up just 1 percent month-on-month and down 24 percent onthe previous year, according to the research.

Astbury Marsden's Cameron said smaller bonuses in the wakeof increased public and shareholder scrutiny over executive paymay have affected candidates' willingness to move.

"Candidates know how fragile the market is, and with bonusesnow making up a smaller proportion of the overall package, thereis less of an incentive to pocket a bonus and then rush into anew role," Cameron said.

Related Shares

More News
31 May 2024 08:34

UK competition watchdog probes Nationwide-Virgin Money deal

May 31 (Reuters) - Britain's competition regulator said on Friday it had started a probe into Nationwide Building Society's proposed 2.9 billion pou...

24 May 2024 16:45

Danske Bank and Barclays chop ECB rate cut forecasts

LONDON, May 24 (Reuters) - Danske Bank said on Friday it expects the European Central Bank only to cut interest rates twice this year, not three tim...

24 May 2024 08:52

TOP NEWS: Coventry Building Society buys Co-Op Bank for GBP780 million

(Alliance News) - Coventry Building Society on Friday said it has agreed to buy Co-operative Bank Holdings PLC for GBP780 million in cash, in the late...

21 May 2024 10:47

UK Libor trader Hayes given route to appeal rate-rigging conviction at Supreme Court

LONDON, May 21 (Reuters) - Tom Hayes, the first trader jailed worldwide for interest rate rigging, was on Tuesday refused permission to appeal again...

21 May 2024 10:00

LONDON BROKER RATINGS: UBS lifts Schroders; Barclays likes Wise

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and on Monday:

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.