Money Rise in number of financial sector jobs despite triggering of Article 50

09:00  20 april  2017
09:00  20 april  2017 Source:   Press Association

Flurry of deals by private equity firms forecast

  Flurry of deals by private equity firms forecast Private equity firms are on course to execute a flurry of deals over the summer as a "new normal" is ushered in following the triggering of Article 50, according to a magic circle law firm. Charles Hayes, partner at Freshfields Bruckhaus Deringer, said last year's deal-making lull following the Brexit vote has given way to heightened activity now that Britain has officially begun divorce proceedings with the EU.The comments come as the number of London private equity (PE) deals reached its highest monthly level for more than a year in March.

- The official triggering of Article 50 failed to spook the City jobs market, which saw a double digit rise in financial sector vacancies last month. It showed that the " jobs spurt" is being fuelled by vacancies in regulatory finance , fintech and risk management.

The official triggering of Article 50 failed to spook the City jobs market, which saw a double digit rise in financial sector vacancies last month. Theresa May's triggering of Article 50 has not spooked the City jobs market.

Brexit © PA WIRE Brexit

The official triggering of Article 50 failed to spook the City jobs market, which saw a double digit rise in financial sector vacancies last month.

The number of financial services jobs up for grabs in London grew 17% in March compared to a month earlier, and 13% year-on-year to total 8,145 new openings, according to Morgan McKinley's London Employment Monitor.

It showed that the "jobs spurt" is being fuelled by vacancies in regulatory finance, fintech and risk management.

Hakan Enver, operations director for Morgan McKinley Financial Services, said: "Businesses are done trying to read the tea leaves to see what lies ahead, and they're getting back to the business of hiring talent."

'Doubts' holding back would-be entrepreneurs

  'Doubts' holding back would-be entrepreneurs Aspiring entrepreneurs are reining in their ambitions of starting a new company, according to a survey which shows that the number of people confident in Britain's business environment has fallen to a record low.  The NatWest Entrepreneurship Monitor - which polled 2,044 respondents in the first quarter - shows that less than one in five people feel that now is a good time to start a business. That is despite a rise in the number of people who said they would like to start a business to 14%, up from 10% and 12% in the third and fourth quarters of 2016 respectively.

Theresa May's triggering of Article 50 has not spooked the City jobs market. The official triggering of Article 50 failed to spook the City jobs market, which saw a double digit rise in financial sector vacancies last month.

Theresa May's triggering of Article 50 has not spooked the City jobs market. Rise in number of financial sector jobs despite triggering of Article 50 .

Meanwhile, the number of financial sector job seekers fell 9% month-on-month, and 25% compared to the same period last year, to 9,695.

Mr Enver explained that March tends to be a quiet month for job seekers as the first quarter bonus season is still wrapping up, and that there is likely to be a spike in April figures.

A number of firms have already publicly announced plans to move operations out of the UK in order to safeguard segments of the business reliant on access to the single market for financial services.

But Morgan McKinley says those moves are not translating into higher unemployment across the Square Mile.

"As London continues to attract investors from across the globe, institutions are grappling with the need to maintain access to the common European market, as well as the wealth of investors and economic productivity in and around London. 

"Instead of relocating to Europe, therefore, financial services are increasingly looking for the best of both worlds by keeping their foothold in London, and expanding operations in or to other European financial hubs," the report said.

Nestle to cut 300 jobs in Britain as it moves production of Blue Riband bars to Poland .
Swiss company's decision draws strong criticism from unions, who accuse it of jeopardising workers' future.The Swiss company said on Tuesday (25 April) that the decision will affect jobs at various sites across the north of England and in Scotland, with 143 jobs set to be cut at the company's site in York, which was acquired in its takeover of Rowntree in 1988.

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