If bankers in Dubai thought there where challenges in finding a new role, spare a thought for your compatriots in London; Morgan McKinley’s latest figures from our London Employment Monitor show dramatic falls of up to 57% in vacancies across London’s financial sector from the same time last year. Other interesting facts include the time taken to place professionals into a new job, which rose by six days in March to 67 days, which shows banks are taking their time to identify the best candidates in the market. There are also less job seekers in the marketplace from the same time last year, down by a sizeable 62% which also indicates caution. At the moment, if your bank looks to be weathering the storm well, then why move?

For banks with a balance sheet, there is a real opportunity to grow and attract fantastic talent. The fact that there has been little indication of this at the moment, just shows the markets are still concerned about the world economy, especially the challenging knock on effects of Europe that seem to be veering from one disaster to another.

In the UAE we are still seeing regional banks consolidating, International Banks downsizing and many back and middle office functions being relocated to less expensive regions. For the banks that are looking to grow and take advantage of this, these are good times to build a regional platform.

For more information please look at http://www.morganmckinley.co.uk/news/morgan-mckinley-london-employment-monitor-march-12

If bankers in Dubai thought there where challenges in finding a new role, spare a thought for your compatriots in London; Morgan McKinley’s latest figures from our London Employment Monitor show dramatic falls of up to 57% in vacancies across London’s financial sector from the same time last year.

Other interesting facts include the time taken to place professionals into a new job, which rose by six days in March to 67 days, which shows banks are taking their time to identify the best candidates in the market. There are also less job seekers in the marketplace from the same time last year, down by a sizeable 62% which also indicates caution. At the moment, if your bank looks to be weathering the storm well, then why move?

For banks with a balance sheet, there is a real opportunity to grow and attract fantastic talent. The fact that there has been little indication of this at the moment, just shows the markets are still concerned about the world economy, especially the challenging knock on effects of Europe that seem to be veering from one disaster to another.

In the UAE we are still seeing regional banks consolidating, International Banks downsizing and many back and middle office functions being relocated to less expensive regions. For the banks that are looking to grow and take advantage of this, these are good times to build a regional platform.

Read the full London March 2012 Employment Monitor .