City jobs boost flies in face of investment banking cuts

Financial services jobs in the City of London have seen a 17% upswing since February of last year, according to recruitment firm Astbury Marsden.

The City is expected to boost its hiring capacity thanks to an increase in share values across the board, undeterred by planned cuts to investment banking divisions at some of the largest banks. The financial district increased its headcount by 3,010 last month and added 2,780 jobs in January, said the recruiter.

Christopher Adeyeri, associate director at Astbury Marsden, said: "A strong global equities market and positive economic noises emanating from the US and the eurozone contributed to increased hiring activity in February.

"City hiring activity tends to slow through January and February as firms finalise their recruitment plans for 2015."

Adeyeri expects a reshuffle if some city staff decide they did not get the bonus they deserve. Those who may have been planning to move jobs but were waiting to hear about their 2014 bonus "will undoubtedly look at new opportunities in the spring", he said.

The equities-related jobs boost appears to fly in the face of announcements from the likes of Barclays and RBS to slash their investment banking operations.