Increasingly tough legislation from financial regulators will reportedly result in City banks having to hire armies of compliance consultants in 2016. A survey reveals that lenders and other institutions are so desperate to hire for senior roles in compliance, they are willing to resort to short-term contracts to get them. Rates for people in stress testing and credit risk modeling will rise 6.3%, to £850 per day, while temporary roles in market risk reporting will rise 16%. Barclays' CEO John McFarlane said in November that the disadvantages due to increased regulation and taxation will cause the London's attractiveness as a financial centre to reach a "tipping point".
Increasingly tough legislation from financial regulators will reportedly result in City banks having to hire armies of compliance consultants in 2016. A survey reveals that lenders and other institutions are so desperate to hire for senior roles in compliance, they are willing to resort to short-term contracts to get them. Rates for people in stress testing and credit risk modeling will rise 6.3%, to £850 per day, while temporary roles in market risk reporting will rise 16%. Barclays' CEO John McFarlane said in November that the disadvantages due to increased regulation and taxation will cause the UK's attractiveness as a financial centre to reach a "tipping point".