· News

Optimism as City vacancies rise

The number of jobs available in London’s financial district rose by 51% year-on-year in 2013.

Figures published by professional services recruiter Morgan McKinley showed the number of active job seekers in the City has also increased by 45% year-on-year.

The monthly monitor revealed that at the end of 2013, salaries were up 27% on average levels in December, compared to 15% in November.

Morgan McKinley financial services operations director Hakan Enver predicted a further hike in recruitment this month.

“Looking specifically at the types of placements being made in December, the volume came largely once again from governance related positions – which are plentiful given the on-going regulatory changes – as well as roles across support, finance, IT and change management,” he said.

“Looking ahead into 2014, we predict continued optimism in the City. With the EU also improving – in particular Ireland exiting the international bailout programme and returning back to the bond markets and Greece taking better control of its finances and its economy stabilising – there is certain to be a positive knock-on effect on City employment.”

However, Enver warned that fines levied against banks for trading irregularities or misleading clients could damage their recruitment opportunities.

“Any fines will bite into their profit margins and ultimately this could have a negative impact on hiring,” he said.