London jobs in financial sector appear promising

The latest Morgan McKinley survey predicts that London jobs in the financial sector will be promising in 2010.

Andrew Evans, managing director of Morgan McKinley’s financial services division, commented: “The survey provides a far more positive outlook for the financial-services employment market in 2010, compared to this time last year.”

According to the survey, 42,000 new jobs were created in the field during 2009 and 83pc of respondents believe the numbers will rise this year.

Evans added: “These survey results reinforce the view that confidence continues to return to the City and, in turn, the jobs market, with 82.9% of hiring managers surveyed expecting recruitment volumes to be up on 2009 levels”.

With job opportunities looming in the sector, the Wealth Bulletin reports that a talent war in the capital can be expected.

According to the news provider, London has plenty of talent who were made redundant at companies like Bear Stearns, Lehman Brothers and Merrill Lynch.

More good news for the industry is that salaries in the capital rose by 3pc over December, compared to the year before.

The Morgan McKinley survey backs the predictions of Savvas Savouri, Tosca’s chief economist. Savouri told the Financial Times that he expects London to gain 100,000 finance jobs within the next 10 years.