Booming jobs market defying Brexit fears
Despite oft-repeated concerns over Brexit, the jobs market in many of the UK's major cities has been growing apace over the past year, according to new survey.
Brexit uncertainty remains for many UK businesses
Lee Biggins, founder and managing director of CV-Library, said: “Another year has passed and there’s still a great deal of uncertainty surrounding Brexit and what this will mean for many businesses across the UK.“This is particularly true right now following the resignation of both the Foreign Secretary and Secretary of State, which will inevitably delay Brexit negotiations. Yet despite this, employers across London appear to be showing resilience, as they’ve continued to drive their recruitment efforts in the last 12 months.”The report was published after Barclays unveiled plans to create up to 2,500 jobs at a new hub in Glasgow, which will house the bank’s technology, functions and operations teams.Related stories:
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Paul Compton, chief operating officer at Barclays, said: “The Glasgow campus, alongside others in Whippany, New Jersey, and Pune, India, is part of a global strategy to create world-class facilities for our functions, technology and operations teams.Nicola Sturgeon, Scotland's first minister, added: “The new campus will strengthen Glasgow’s financial services sector and shows Scotland continues to be a highly attractive location for inward investment."
FCA warns that UK financial sector must plan for "hard" Brexit
However, the Financial Conduct Authority (FCA), the UK's financial regulator, has warned the country's financial sector as a whole that it must plan for a "hard" Brexit in case no agreement is reached with the EU when the post-Brexit transition period ends in 2020.“With eight months until we exit the European Union in March 2019, it is important we all — regulators and industry — continue to plan for a range of scenarios,” said Nausicaa Delfas, head of international strategy at the FCA.“Across the FCA, together with colleagues from the Bank of England and the government, we have been working to develop a number of safeguards and contingencies, in the event of a hard Brexit, to ensure that ‘day 1’ works smoothly.”Uncertainty over the UK's financial sector's relations with the EU27 after Brexit has led to many banks and insurers with London bases establishing new hubs in a variety of other European cities, such as Frankfurt, Paris and Paris.Relocate’s new Global Mobility Toolkit provides free information, practical advice and support for HR, global mobility managers and global teams operating overseas.Access hundreds of global services and suppliers in our Online Directory©2024 Re:locate magazine, published by Profile Locations, Spray Hill, Hastings Road, Lamberhurst, Kent TN3 8JB. All rights reserved. This publication (or any part thereof) may not be reproduced in any form without the prior written permission of Profile Locations. Profile Locations accepts no liability for the accuracy of the contents or any opinions expressed herein.