The number of financial services vacancies in the capital has decreased by 31 per cent in the first quarter compared to the same period of last year, according to research Morgan McKinley.

Data from the recruiter also found that there had been a 12 per cent hike in job seekers the sector in comparison to 2022.

Compared to the fourth quarter of 2022 there has been a 19 per cent increase in job seekers in London.

Hakan Enver, managing director of Morgan McKinley UK, said that the results weren't surprising given recent setbacks in the industry, with news of redundancies and the collapse of both Silicon Valley Bank and Credit Suisse.

“Despite the decrease in overall demand and increase in supply, there is a desire to hire and grow - the job market in London's financial services industry is set to grow even further over the course of 2023," said Enver. "London held onto its crown as the favourite destination for investment in 2022, with $20 billion pumped into the capital's start-ups."

He added that in comparison to wider financial services talent, the competition for green business experts has grown due to the "ever increasing focus on Environmental, Social and Governance (ESG) frameworks".

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