Financial services is one of the areas seeing a definite recruitment spike
considered the most vulnerable among EU members to any change in trade after Brexit, the financial services firms want to keep close access to clients after Britain leaves the EU in 2019.
Barclays, Legal & General Investment Management and Standard Life Aberdeen are among companies to pick Ireland as a post-Brexit base against stiff competition from rival centres including Luxembourg, Frankfurt and Paris.
Robert Mac Giolla Phadraig, Sigmar Recruitment’s chief commercial officer, said headhunted personnel were securing increases of between 10pc and 15pc, with front-office staff able to command the highest salary jumps. Two-thirds of employers surveyed by Sigmar and accounting firm EY said they expected to give staff a pay rise in order to stop poaching by rivals, a practice already accounting for one in four hires.
“We have reached a tipping point ... this is a talent crisis.”
Local banks Allied Irish Banks and Permanent TSB both said they had lost staff to international rivals in recent weeks, hobbled by a salary cap and ban on share-based remuneration.
Around a fifth of vacancies are being filled from abroad and more employers are also offering flexible working to help seal the deal.
Andrew Crawford, head of Experis Ireland, said applicants were coming from as far afield as Australia and the US, after many had left following the 2008 financial crisis. (Reuters)
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