Financial hiring rebounds after election result as job vacancies in Glasgow and Edinburgh surge 21 per cent following independence vote
Hiring in the City dipped in the run-up to the General Election, but has rebounded on the Conservatives’ victory, recruitment firm Venn Group said today.
Advertised vacancies fell by 10 per cent in April, on fears that a Labour win could have led to higher taxes and more red tape.
The surge in vacancies since then includes a spike in demand for structured finance specialists and credit analysts, as well as project managers to implement the Financial Conduct Authority’s (FCA) new client asset rules at investment banks and asset management firms.
Meanwhile, financial services hiring has also recovered north of the border, following last year’s Scottish referendum on independence, according to recruiters BrightPool.
Vacancies in the sector in Glasgow and Edinburgh rose to 3,070 at the start of May, up 21 per cent from 2,530 at the time of September’s vote on independence.
Hiring slowed sharply ahead of the vote, with some firms warning they could move their headquarters south if the country did back independence.
But renewed pressure for another vote could hit that recovery.
“Glasgow and Edinburgh are two of the UK’s great financial services centres with significant reserves of sector expertise so it would be a shame to see political uncertainty slow recruitment there,” said BrightPool’s Angela Hickmore.
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