City Firms Seeking More Accountants

Thu, 15 Apr 2010

Recruitment of accountancy professionals among City firms has increased considerably since the start of the year, according to specialist London recruitment consultancy Ambition UK.

The firm, which used to be known as Witan Jardine, said there has been "rapid growth" in the City jobs market, particularly with the hiring of product controllers, financial controllers and regulatory accountants by investment banks .

Neil Phillips, associate director for banking and finance at the recruiter, said: " Banks are facing real difficulty recruiting for two-three year post-qualified accountants in product control, financial control and regulatory reporting roles."

"There's only a finite number of these people, therefore investment banks are either poaching from each other or considering the newly-qualified market."

According to recruitment consultancy Morgan McKinley, financial services vacancies increased by 21 per cent in March and by 83 per cent year-on-year to more than 6,300.

Commenting on the growth in accountancy recruitment, Simon Lindrea, a director at Michael Page Financial Services, said: "For the last two years during the crunch there was a much lower level of hiring of accountants across the financial services sector."

"Now we are faced with situations where individuals often have multiple job offers, buybacks and potential guarantees. However, whilst demand has increased significantly, it still hasn't reached the levels we saw in 2007."
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