The summer months are traditionally slow in the recruitment markets and throughout the city we are still seeing the number of redundancies outweighing the number of hires.
According to a recent report by efinancial news, the number of jobs in the City of London slumped by over 50% in June, compared with June last year. There does however seem to be a spiked demand for Regulatory and Corporate guidance roles, project managers and business analysts, as companies evolve to meet new financial regulations.
Another survey recently produced found that over 15,000 London employees had registered an interest in moving onto pastures new. It seems with the credit crunch, some bankers are seeking alternative employment types which they consider to be more recession proof.
We are seeing the most opportunities with Advisory boutiques and mid-sized players still increasing headcount, albeit through strategic / niche investment, as well as some of the Big 4 accountancy firms. Another area that Alan Mitchell is exploring is roles using investment banking skills outside of the advisory arena altogether – such as Investor Relations and corporate development roles within corporates.