The financial services sector is vital to the British economy. There are around 2 million people employed in the sector across the UK although London dominates employment in the industry with a third working in the capital.
Obviously being at the heart of the economic turmoil of recent years the sector suffered greatly and is perhaps slower to recover. However, due to the size of the sector it still offers many great opportunities. In the decade before the financial crisis, the UK financial services sector grew more than twice as fast as the UK economy as a whole. There are many conceptual difficulties associated with measuring output in finance but it would be fair to say that all the activities of financial services firms still contribute around 10% of the total GDP of the UK.
With significant growth across the Financial Services sector, fuelled by a growing recovery, resurging housing markets and increasing consumer confidence and spending, the demand for talent is once again reaching record levels.
Against the already challenging backdrop of increased regulation and legislation, the move towards greater digitisation and an increasingly complex security landscape are also driving increased recruitment activity.
The reach of the Financial Services industry is huge; it is broadly made up of the following areas of activities:
- Monetary Intermediation (Banking, Central Banking)
- Finance Leasing
- Non-bank credit grantors
- Bank Holding Companies
- Investment Funds such as unit trusts
- Securities dealers
- Factoring Companies
- Life assurance
- General Insurance
- Pension funds
- Financial Markets Administration
- Advisory Services
- Fund Management
One of the founders of BCT Resourcing has 20 years’ experience working in the financial services industry and therefore has particular interest in this exciting sector. We expect to have many finance opportunities to fill over this period of growth. Would you like to break into banking and finance? Please register with us to be in the running for our financial opportunities.