Brexit looms large over all aspects of the UK’s banking sector, including hiring plans. Continued uncertainty about what direction the UK/EU divorce proceedings will go (if they go at all) has organisations on edge, but that didn’t stop them from hiring last year, research shows. Retaining existing top-notch talent was a priority, but attracting new, highly skilled professionals was also a common goal, with UK banks topping the hiring charts.
The traditional business model of investment banks is facing challenges on several fronts simultaneously. Trading commissions are falling as digitally aware customers seek ever lower rates, while the proliferation of electronic platforms has led to low-commission, discount-brokerage models rapidly gaining market share.