Daily News
View All NewsUK — Financial services recruitment up after long slump
14 July 2009
According to Powerchex, the pre-employment screening firm for financial institutions based in the City of London, recruitment levels in the financial services sector have gone up in the second quarter 2009 when compared to the first quarter 2009.
Recruitment levels for stock brokers are up by a staggering 77% in the second quarter when compared to the previous. Other recruitment levels are also up: insurance firms and investment managers both up by 8% and only small negative growth in the hedge funds area with -2% and IT contractors with -3%. However, investment banks recruitment levels are down by 50%.
According to Powerchex’s Managing Director Alexandra Kelly, “things are certainly improving within financial services. Firms have been recruiting quite aggressively recently as the economic situation stabilises and they attempt to make the most of a very talented pool of people who are desperate for work. Things haven’t returned to last year’s levels but there are plenty of jobs out there.â€VbCrLf
However, these latest developments must be seen before the disastrous recruitment levels over the last year where investment bankers were hit with 81% less jobs available. During the same period insurance firms have remained the most resilient during the recession with a decline of only 26%.