A boom at financial technology firms and growing demand to get to grips with artificial intelligence lifted
financial sector job vacancy numbers in London in the third-quarter, Morgan McKinley’s London Employment Monitor showed on Monday.
Vacancies in the sector rose 9% year-on-year, the recruiter said, alth
ough it warned that graduate-level hiring was slowing as more roles are automated.
Mark Astbury, director at Morgan McKinley, said a sharp dip in hiring earlier this year caused by uncertainty around
potential trade tariffs had been offset by a striking rebound, as employers resumed delayed hiring plans.
This year, employers have posted 6,425 fintech roles, already ex
ceeding last year’s total, reflecting the race to commercialize AI platforms, Astbury said.
But with the upcoming budget on November 26, many businesses, already hit by the British government’s inc
rease in national insurance taxes, are concerned about further tax rises, making them cautious.
“In most cases, decisions are being delayed rather than withdrawn,” Astbury said.
He also noted structural changes that were reshaping the financial sector employment market, with m
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ore junior roles going to cities like Belfast and Glasgow and automation reducing administrative roles. London, on the o
ther hand, continues to attract the bulk of senior positions, such as in technology, corporate finance and AI strategy.
(Reporting by Phoebe Seers; editing by Tommy Reggiori Wilkes and Toby Chopra)
Insurers including Direct Line Insurance Group Plc and Admiral Group Plc are getting in touch with about 270,000 af
fected customers, according to the watchdog. About £129 million has already been paid out.
The regulator started a review of practices around car insurance claims last year, finding that some providers were ma
ing automatic deductions for assumed pre-existing damage to
vehicles. This particularly disadvantaged careful drivers, according to the FCA.
“We’ll step in when consumers aren’t getting fair value — and we are pleased to see that the practices which led t
o some unfair payouts have already changed,” Sarah Pritchard, deputy chief executive officer of the FCA, said in a statement.