Friday 22 June 2018

Brexit drives increase for finance jobs in Ireland

O'Connor told me that MEV's investment strategy is focused on the Algarve and Spain over the next two to three years.
O'Connor told me that MEV's investment strategy is focused on the Algarve and Spain over the next two to three years.
Ellie Donnelly

Ellie Donnelly

As the Brexit deadline of March 2019 grows closer, there has been a sharp uplift in hiring for financial services roles in Ireland, according to research from jobs site Indeed.

In the first three months of 2018 there was a 15pc increase in the share of job postings for finance roles, when compared with the same period in 2017.

The companies that are searching for talent include many well-known banking and financial advisory firms including Citi and JP Morgan.

The news comes on the back of recent further announcements of financial services jobs moving from London to Dublin, with Bank of America announcing it will move 125 jobs roles to Ireland, and Thomson Reuters announcing plans to move its foreign exchange derivatives trading operation to Dublin.

"Ireland’s labour market continues to tighten, with the overall unemployment rate now at 5.9pc compared to the eurozone average of 8.5pc," Tara Sinclair, economist and senior fellow at Indeed, said.

"Financial services is one of the areas seeing a definite spike in recruitment, with our data showing a 15pc increase in the share of job postings for finance roles in the first quarter of 2018 compared to the previous year."

The jobs companies are finding hardest to fill include areas like investment analysis, portfolio management and risk management, according to the job site.

Earlier this year research from Indeed has shown Ireland as the biggest beneficiary of a growing trend of UK workers considering a move to an EU country.

The share of job searches from the UK directed to EU-based roles has risen to 15.2pc higher than that recorded in the pre-referendum first quarter of 2016, with Ireland attracting 21.4pc of these searches, followed by France with 17.5pc, Spain with 12.8pc of searches, according to the research.

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