The number of financial services jobs being created north of the border has soared in the aftermath of the independence referendum.
Recruiter BrightPool has revealed that there were around 46,000 vacancies at the beginning of this month, compared to just over 45,000 at the time of the vote. This increase saw Scotland outperform London in terms of job creation, where growth was more static.
BrightPool found that the number of available vacancies nosedived by 19% in Glasgow and Edinburgh ahead of last year’s referendum, as major employers in the finance sector threatened to relocate south of the border in the event of a ‘Yes’ vote. Its managing director, Angela Hickmore, warned that history could repeat itself if there is renewed pressure for independence.
Ms Hickmore said: “Recruitment activity in Scotland’s financial services sector has rebounded sharply after the industry put hiring on pause until the referendum was out of the way. Glasgow and Edinburgh are two of the UK’s great financial services centres with significant reserves of sector expertise, so it would be a shame to see political uncertainty slow recruitment there.”
The report claimed that the jump in vacancies has been partly driven by the rise of so-called “challenger banks”, which have been attracted to the country by a large pool of skilled workers and lower costs. Several of these institutions have set up in Scotland, including Tesco Bank, Sainsburys Bank and Virgin Money.
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