Last year Arrows Group, along with a number of other financial recruitment specialists, predicted a return to growth in the City jobs market around the end of the first quarter of 2010. New statistics released this month and discussed in the Financial Times, among other places, reveal that our predictions were correct.
In a month where we’ve reported an increase in vacancies for City jobs, the bounce back of the financial jobs market is making itself known in another area: competition for candidates. It is becoming increasingly common for in-demand candidates to not receive just one job offer when they put themselves on the market, but to receive two, three or even more.
Ever since the impact of the US sub-prime mortgage crisis began to ripple through international financial systems, there have been cries from many people, politicians and institutions for a major rethink of the way that the financial system operates and the degree to which the sector needs to be regulated. Today many politicians including President Obama are arguing for the virtual rebuilding of the sector, with strict rules on the allowable practices, and even the allowable size of financial institutions. Today we’ll be looking at just one particular aspect of the new moves towards financial regulations, the European Union’s “Solvency 2” requirements.