City firms set to recruit

Firms in the UK financial industry are ready to start taking on staff again according to a survey of employers conducted by the leading financial recruitment website, eFinancialCareers.com.

The first eFinancialCareers.com quarterly recruitment survey has found that despite the uncertain economic background the number of firms in the financial industry planning to increase headcount outnumbered those planning to cut back by four to one. Indices for four out of seven employment sectors are positive about hiring intentions over the next three months with decreases indicated in only two.

The sectors showing the highest demand for new staff are private equity and fixed income. Fund management, equities and private banking are also signalling recovery hopes. Sectors with the weakest demand, the survey shows, are corporate finance and custody.

Commenting on the figures, eFinancialCareers.com chief executive John Benson said: These figures show that after cutting staff levels to the bone during the past 18 difficult months, financial institutions are looking to better days ahead. Firms are telling us that they will need to gear up on the staffing front in certain areas to take advantage of market opportunities as they arise.