Uncertainty over Brexit taking toll on banking jobs

Brexit is taking a “considerable bite” out of banking jobs and the City is preparing for more uncertainty as Britain’s withdrawal from the European Union becomes more protracted, according to a recruitment firm.

Morgan Mckinley said there was a 39 per cent fall in jobs available in November compared with the same month a year earlier, and there was a 4 per cent decrease in jobs available compared with October.

There were 14 per cent fewer professionals seeking jobs in November compared with the month before, and 28 per cent fewer than last year.

Hakan Enver, managing director of Morgan Mckinley, said: “Brexit has taken a considerable bite out of banking jobs and with an ambiguous Brexit deal on the table, the City’s bracing for more pain ahead.”

He called for visa regulations to be modernised in the expectation that increased residency barriers for EU nationals will be offset by an easing of visa barriers for people from Asia and the US.