Financial hiring has rebounded in London after the election result as job vacancies in Glasgow and Edinburgh surge 21 per cent following independence vote.
Hiring in London has rebounded since the Conservatives’ victory after dipping in the run up to the General Election, a recruitment firm has said.
Venn Group said that advertised vacancies fell by almost 10 per cent in April, on the uncertainty of the results over the election and the effect parties could have had on taxes and red tape.
A spike in demand for structured finance specialists and credit analysts, as well project managers to implement the Financial Conduct Authority’s new client asset rules at investment banks and asset management are partly behind the surge in new vacancies.
And according to recruiters BrightPool financial services hiring has also recovered after last year’s Scottish referendum on independence.
Job vacancies in the financial sector are up 21 per cent in Glasgow and Edinburgh, rising to 3,070 at the start of May – up from 2,530 at the time of the vote on independence in September.
After some firms warned that they could move their headquarters south to England if Scotland did back independence, hiring intentions slowed sharply ahead of the vote.
But renewed pressure for another vote could hit that recovery.
BrightPool’s Angela Hickmore told City A.M. “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.”