Financial services hiring freeze? Not likely

Are Irelands financial services firms putting hiring plans on hold? "Er, no", say recruiters.

The dastardly rumour originated with the latest survey from recruitment group Manpower Ireland. This pointed to a slowdown in banking and finance in the next three months. Just 2% of firms surveyed in the finance, insurance, property and business services sectors said they expected to hire more staff, but the recruiters we spoke to say this couldn't be further from the truth.

"All our current clients are hiring now, replacing staff who've left or hiring new staff for new sections of their business. If anything, we're busier than ever," says Hamish Reid, manager of Sigmar's finance division.

"The market is still incredibly candidate-driven and our clients want us to find them talented people. Lending and funds candidates are especially in demand at the moment," he added.

Finding talented staff is the real concern, says Gemma Allen, director of recruiters Robert Walters. "Our clients are paying us to do roadshows in Poland, France and farther afield to find the best candidates, because very few people will relocate from London at the moment. We're trying to help them source in more innovative ways and the demand is definitely there.

"Exceptional candidates can do interviews with several Irish employers and take their pick of the jobs. Securitisation, structured finance and derivatives staff are particularly in demand and there's a shortage of both junior and senior quantitative analysts at the moment," she adds.