New data has revealed that London’s financial sector created 25 percent more jobs in February than a year ago, with signs that the industry may soon recover from the financial crisis.
After a promising start to the year, 3,220 new jobs were created in February this year, compared to 2,575 new jobs generated in February 2013. Additionally, job creation over the past three months has been 34 percent ahead of the same period from last year, with data suggesting that London’s banks and financial service companies have begun to recover from thousands of job losses which occurred in the wake of the numerous industry scandals that followed the recession.
Michael Fisher, Financial Services Practice Leader at Executives Online, said: “As the financial industry shows positive signs of recovery after a lengthy period of restructuring, investment banks and other financial institutions have been looking to maintain strong staff retention, as well as recruit new HR managers and interim change managers to facilitate structural change and reduce staff turnover.
“The evolving landscape in compliance and risk management has highlighted the particular need in banks for new technology in the form of cyber risk management, which in turn has created a demand for highly skilled personnel that can implement and train staff at all levels on new security systems quickly and effectively. By focusing on strong staff investment and training, financial organisations can secure a more positive economic future.”