Vacancies in the banking sector hit record levels over 2021, up 129% from 2020, with high street banks making a dramatic push into hiring at pre-pandemic levels.
Hiring seemed to not affect the City, despite the unresolved plans for the financial services sector in a post-Brexit era, according to a report from Morgan McKinley, though the fourth quarter of 2021 saw a 5% dip in vacancies compared to other quarters.
Professional vacancies for corporate finance specialists saw the largest growth, the 165% year-on-year increase in new jobs in 2021 was a further sign of a boom in M&A.
JPMorgan led the sector’s recruitment drive in the UK, with vacancies up 122% year on year.
After a difficult 2020 for new jobs with the number of roles plunging 35% at NatWest and 23% at Nationwide, the lenders indicated significant recovery, with 287.4% and 202.5% more vacancies, respectively.
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UBS was the only lender to record a reduction, publishing 4% fewer jobs year on year.
Overall, London saw 29,000 new banking jobs published in 2021, a 96% rise compared to 2020. However, as a share of overall UK banking vacancies, new jobs in the capital fell by 3.7 percentage points, accounting for a little over half of total vacancies.
Wales exhibited the largest growth for banking vacancies in the UK, with volumes up 451% year-on-year.
Morgan McKinley UK managing director, Hakan Enver, noted that in the financial…
