The drop in hiring in UK's financial services industry last month, was due tobanks hiring staff in regional hubs outside the capital to save on costs, rather thanevidence of a wider slowdown in the financial services industry. "Many employees are being priced out of UK and the cost of living and quality of life, particularly for those with children, can be highly attractive outside the square mile". Examples are HSBC and Deutsche Bank, which are setting up offices in Birmingham, and JP Morgan,which has a site in Bournemouth. Recruiters also highlight the limits on immigration as a potential problem, stating that since the financial services sector is global by nature, visa restrictions being discussed by the London Government "are a real threat to the London's competitiveness".
The drop in hiring in London's financial services industry last month, was due tobanks hiring staff in regional hubs outside the capital to save on costs, rather thanevidence of a wider slowdown in the financial services industry. "Many employees are being priced out of London and the cost of living and quality of life, particularly for those with children, can be highly attractive outside the square mile". Examples are HSBC and Deutsche Bank, which are setting up offices in Birmingham, and JP Morgan,which has a site in Bournemouth. Recruiters also highlight the limits on immigration as a potential problem, stating that since the financial services sector is global by nature, visa restrictions being discussed by the UK Government "are a real threat to the UK's competitiveness".