Hiring at London’s financial-services companies could come under pressure this year as firms grapple with regulatory costs and fines tied to regulatory mis-steps, according to a recruitment firm.
Job openings in London’s main financial district, known as the City, and elsewhere in the British capital dropped 42 percent to 4,095 in December from 7,056 a month earlier, Morgan McKinley said in a statement today.
Any optimism “could be short-lived if more banks continue to face hefty fines for various trading irregularities or misleading of clients,” Hakan Enver, operations director at Morgan McKinley Financial Services, said in the statement. “Any fines will bite into their profit margins and ultimately this could have a negative impact on hiring.”
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