Tuesday 23 January 2018

Surge in financial workers seeking jobs here

Dublin's IFSC (Stock picture)
Dublin's IFSC (Stock picture)
Colm Kelpie

Colm Kelpie

The number of British and Europeans interested in financial sector jobs in Ireland has increased in the wake of the Brexit vote, according to data from jobs site Indeed.

Job searches from the UK in the wake of the referendum vote surged in the eight-week period after the vote across a wide range of roles, the recruitment website said.

UK-based searches for auditor roles located in Ireland increased by 55pc over the period.

Searches for accountant roles jumped 46pc, finance manager by 36pc, finance analyst by 50pc and trader by 38pc.

Indeed economist Mariano Mamertino said the research reveals that financial sector professionals are increasingly considering Ireland as a place to work, largely because of the uncertainties associated with Brexit.

"Ireland is seen as a natural alternative to the UK by jobseekers, because it is an English-speaking country, with a flexible labour market and has one of the strongest growing economies in Europe," he said.

It comes in the wake of a report by Brussels-based think-tank Bruegel, which projected that almost a fifth of wholesale banking activity in the European Union post-Brexit will take place in Ireland.

London currently dominates the sector, which includes large-scale banking for large corporations and finance houses.

Meanwhile, the Irish Ambassador to Britain, Daniel Mulhall, told MPs that we hope to attract firms moving out of the UK to avoid the impact of Brexit.

Mr Mulhall said Brexit posed "very real challenges" for Ireland, but the country was adopting a pragmatic approach and wanted to benefit from "any upsides" from business moving away from the UK.

He told the Commons Northern Ireland Affairs Committee that Dublin had concerns about the impact of Brexit on trade, the Border and the common travel area, but was confident that a deal could be struck to address those issues and preserve the close links between the two countries. Mr Mulhall added that Ireland would be more affected by Brexit than any other EU member state.

"I believe it is widely recognised that Ireland will be uniquely affected by the UK's exit from the EU," he said.

"This is because of the special circumstances that apply to us - the fact is that we have the only land border with the UK."

British Prime Minister Theresa May has ruled out remaining a member of the single market, and will seek a new customs arrangement rather than stay in the customs union.

Mr Mulhall stressed that it was essential that Brexit did not affect the Good Friday Agreement.

Irish Independent

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