Recruiter looks for 800 Irish applicants to fill bank posts
UK banks want to recruit up to 800 Irish bankers as the financial services industry in London recovers, a leading employment company said yesterday.
"The recent pick-up in the British economy and an increased focus on compliance is motivating banks to boost employee numbers," Hays Ireland said in a statement. The majority of vacancies are for bankers with accountancy backgrounds, with salaries ranging between £50,000 (€55,600) and £80,000 (€89,000).
"British banks are already feeling the first winds of recovery and in recent weeks we have seen a very significant increase in the demand for bankers," said Richard Eardley, managing director, Hays Ireland.
"At the same time the increased focus on compliance means many firms are also beefing up their internal audit function."
Britain's Financial Services Authority (FSA) said yesterday it is hiring 460 workers this year to help implement new European insurance rules and bolster supervision with a more "proactive" approach it said demands more and better employees.
The FSA, which has been on a recruitment drive for about the past 18 months, said more new staff were needed to help meet EU Solvency II rules designed to ensure insurers have enough capital to cover their risks.
The Central Bank in Dublin is also looking for up to 300 extra staff to boost bank regulation. Although banks are often the first to lay off staff during a recession they are also the first to start hiring again as the economy picks up.
Hays Ireland said it is currently seeking to fill 800 vacancies for accountants, financial controllers, internal auditors and other positions.
"We have been given the very clear message that UK banks like Irish employees," said Mr Eardley. "The banking systems are very similar so they know the skills of Irish applicants travel well."