Finance Sector UK Rebounding At A Fast Pace Finance Industry of the UK is Bouncing Bank to Pre-recession Level According to a business survey conducted by Reuters UK, the financial sector of Great Britain has recruited many new people in the 1st quarter of 2013 indicating that a prolonged period of unemployment across banking, finance and accountancy UK is about to end now.
A recent study by the UK’s number one business lobbying organization (CBI) and consulting PricewaterhouseCoopers (PwC) says that a rise of about 18% in income from premiums fees and commission has increased the profit bars for financial service providers across the country. Around 96 companies participated in this survey, which was conducted between 20th February and 7th March; 34% admitted that their profits have risen while 15% reported a fall in their profits. In context to business volumes, 48% companies said they saw an increase and 17% reported a fall. Digging up in the survey results
Moreover, the jobs in the sector reported an increase of 2000 in the 1st quarter and it is anticipated to increase by the same number in the 2nd quarter as well. “The financial services firms also seem more positive about their business situation, profits and business volumes.” Said Steve Davies, a partner at PwC “Business is anticipated to experience further development across commercial, retail and financial sectors, and the employment is set to grow again” added Steve. Although signals show that headcount is growing faster, banks are still not confident enough to make new investments due to uncertainty over returns, says the survey. A study published by the CBI and PwC on 1st July 2013 says, Banks, insurers and asset managers may introduce 1,000 new job positions in the coming three months. The CBI and PwC conducted another survey across 94 banks, insurers, customer-owned lenders, investment managers and securities firms based in London, between May 20 and June 6, and found that financial jobs in London alone increased by 25% in the first quarter of the year 2013, and the number of applicants dropped by 7% in the same timeframe, meaning there were more jobs for fewer candidates in the city. Hakan Enver, operations manager for financial in global professional services recruitment company Morgan McKinley, said, 'This picture of the employment segment is based on what the employers are showing to us; that there is more potential to recruit new staff and the hiring process is even more adaptable with a few barriers to bringing new talent on board.' Matthew Fell, CBI director for competitive markets, said that it has been relatively a strong quarter for the financial sector in the UK, with robust growth in business volumes a rise in profits and appetite for investments. Concerns about the scarcity of professionals have eased since January 2013 and overall staffing increased surprisingly in the 2nd quarter, added Fell. While the private banks and financial firms across the UK are set for hiring new staff in the 3rd quarter as well, recruitment companies Bristol too are leaving no stone unturned to get as many finance jobs as possible for their candidates; if you want to build a career as a recruitment specialist, browse the web for the best recruitment consultant jobs Bristol right now!