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New jobs jump by 34% Says Astbury Marsden

According to Astbury Marsden, 3,470 new jobs were created in the City in September, compared to 2,580 new roles created in August. There was an even greater increase in the number of new jobs compared to the same time last year, increasing by 46% from the 2,380 jobs created in September 2013.

Astbury Marsden explains that the surge in hiring has been driven by a number of factors with a strong global equity market and increased hiring in regulatory and compliance roles coinciding with a bounce back from a traditionally slow summer period.

However, Astbury Marsden says that it is still far too early to say whether this is a return to sustained growth in the City jobs market.

Astbury Marsden adds that the value of worldwide equity capital market offerings – including flotations and rights issues – totalled US$678.1 billion in the first nine months of 2014, a quarter more than the same period of 2013 and the highest sum since 2007. The value of M&A deals also surged, hitting US$2.66 trillion, a 60% increase on the same period in 2013.*

Adam Jackson, Director at Astbury Marsden, comments: “The City jobs market performed strongly in September. The key decision makers have now returned to their desks after the summer to buoyant markets, which means many of the hiring decisions that have previously been put off have now been pushed through.”

“Back office areas like risk control, regulatory compliance and technology were high on the agenda in the City in September but we are now also starting to see many employers feel that the time is right to drive business growth by building up their revenue earning teams.”

“As the IPO and M&A markets heat up, this will have a positive knock on effect on hiring in equities trading, broking and corporate finance departments.”

Astbury Marsden adds that nearly all of the investment banks are continuing to invest heavily in technology staff as they respond to regulatory demands to improve the way in which they deal with protecting and securing data.

Astbury Marsden says that many of the large investment banks are hiring staff that can help identify and counter threats to the security and integrity of their IT infrastructure.

Recently, the FBI launched investigations into a series of cyber-attacks against many of the major investment banks with one large investment bank saying that the bulge bracket banks are experiencing cyber-attacks "almost every day".

Adam Jackson adds: “The cyber security jobs market has grown rapidly in recent months and the banks are actively recruiting information security specialists to shore up their technology teams. Firms are now realising just how damaging a cyber-security attack can be on what is a core asset and competitive differentiator - their data.”

*Thomson Reuters data


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