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LSBF Blog - Global Matters

Finance sector jobs thriving across UK, report shows

Finance sector jobs thriving across UK, report shows

A report from financial and related professional services membership body TheCityUK has shown that the financial services sector is thriving, with many areas of the UK seeing job growth.

The report, entitled “Enabling Growth across the UK 2018”, highlighted the importance of financial and related professional services to the UK, with the sector making a significant contribution to economic output and employment across all regions.

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HSBC reveals new banking careers of the future

HSBC reveals new banking careers of the future

HSBC has revealed which banking jobs will be necessary for building a career in a digital-enabled financial services industry in the future.

The bank highlighted the importance of upskilling staff as demand for individuals with an evolved set of skills looks set to rise among banks.

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Finance leading the way for cyber security investment, study shows

Finance leading the way for cyber security investment, study shows

A study from SavoyStewart.co.uk has shown that the finance and insurance sector is leading the way for cyber security investment.

The study, which analysed Gov.uk data from over 800 companies, comes after separate figures from the Business Continuity Institute showed that more than 50% of business believe that cybercrime is their biggest threat.

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Financial services M&A activity is thriving, figures show

Financial services M&A activity is thriving, figures show

Figures collected by Big Four accountancy firm EY have shown that M&A activity in the financial services sector is thriving, with more than 80 deals being completed in the first half of 2018.

The surge in deals comes as a result of financial services firms facing tough competition in the sector, while low interest rates have also contributed to the boost in M&A activity.

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Demand for financial services drives UK service sector growth

Demand for financial services drives UK service sector growth

A report from IHS Markit has shown that the UK’s services sector saw an increase in activity in June, with demand for financial services being one of the main drivers of growth.

The financial services firm’s Purchasing Managers’ Index increased to 55.1 last month, up from 54 in May, with activity in the UK’s services sector growing at its fastest rate since October 2017. The increase was higher than expected, with analysts predicting that the index would remain at 54.

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Accounting one of top industries for pay increase, research shows

Accounting one of top industries for pay increase, research shows

Research from UK job board CV-Library has shown that some of the UK’s key industries saw a significant increase in pay in June, with accounting making the list.

The study compared data from June 2018 with figures from the same period in 2017 and found that advertised salaries for new jobs increased by 1.2% across the UK.

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Boosting wellbeing of self-employed workers will benefit UK economy

Boosting wellbeing of self-employed workers will benefit UK economy

A report from the Centre for Research on Self-Employment (CRSE) has highlighted the importance of improving the wellbeing of self-employed workers.

The report, which is entitled “The Way to Wellbeing” and was released on National Freelancers Day, shows how boosting the happiness and wellbeing of self-employed workers can help to improve business performance and benefit the UK economy.

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Proposal made by FCA for new Directory of financial service workers

Proposal made by FCA for new Directory of financial service workers

The Financial Conduct Authority (FCA) is proposing a new Directory to help boost the protection of consumers and businesses by making it easier for them to access the history and status of individuals working in the finance sector.

The Directory will enable consumers to access information on staff working across a number of different areas in the sector, including investment advisors.

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Finance Innovation Lab calls for purpose-driven approach to financial regulation

Finance Innovation Lab calls for purpose-driven approach to financial regulation

Financial start-up support charity The Finance Innovation Lab has released a report calling for a new regulatory compass, with financial regulators in the UK being urged to adopt a purpose-driven approach to financial regulation.

The report, entitled The Regulatory Compass: Towards a purpose-driven approach to financial regulation, suggests that regulators change their approach to make sure that the financial sector can deliver for the UK economy and society after Brexit.

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Report reveals what finance professionals want from their employers

Report reveals what finance professionals want from their employers

A study from recruitment firm Hays Accountancy and Finance has revealed what workers in the finance sector want from their employers.

The recruitment firm’s What Workers Want study surveyed 14,000 professionals, more than 2,000 of whom were finance professionals, and revealed the top reasons for workers being deterred from a job role, as well as the most important factors to consider when deciding on a job role.

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FCA announces fourth round of firms for fintech sandbox

FCA announces fourth round of firms for fintech sandbox

The Financial Conduct Authority (FCA) has announced the fourth round of successful businesses for its fintech sandbox.

Part of the FCA’s commitment to boosting innovation in financial services, the regulatory sandbox enables businesses to experiment with new products, services or business models in a live environment under appropriate protections.

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Banks can use Open Banking to boost customer engagement

Banks can use Open Banking to boost customer engagement

A new report from Equifax has revealed how banks can boost customer engagement through Open Banking.

The study identified the best ways that lenders can capitalise on the Open Banking initiative, which was introduced earlier this year and requires banks to share customer data with third-party companies.

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Financial services employment rises at fastest pace in a year

Financial services employment rises at fastest pace in a year

A survey from the Confederation of British Industry (CBI) has shown that financial services firms increased hiring in the second quarter of 2018 despite uncertainties over Brexit, with employment in the sector rising at the fastest pace in 12 months.

The study, which surveyed 100 Square Mile firms, found that 24% increased hiring in Q2 2018, while 70% are planning to increase investment compared to last year, with information technology being a main driver of investment.

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Facebook expands initiative to boost UK’s female founders

Facebook expands initiative to boost UK’s female founders

Facebook is expanding its #SheMeansBusiness programme as the social networking website looks to boost the number of female founders in the UK and strengthen the economy.

The programme has so far provided support to 13,000 women by helping them to achieve their business aspirations.

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Strong interest in UK’s financial services drives services exports growth

Strong interest in UK’s financial services drives services exports growth

Figures from the Department for International Trade (DIT) have shown that a strong global interest in the UK’s financial and travel services is helping to drive services exports growth, with a 4.2% rise in services exports.

Exports of goods and services from the UK hit a record high of £620.2bn in the year leading up to March 2018, with demand for high-quality services from Britain remaining strong.

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London business confidence higher than rest of UK, research shows

London business confidence higher than rest of UK, research shows

The latest Business Barometer from Lloyds Bank Commercial Banking has shown that businesses in London are the most confident in the UK, despite concerns over the economy.

The research, which surveys 1,200 businesses every month, also showed that London businesses are resilient despite uncertainties and are set to go ahead with their hiring plans, with 48% expecting to recruit more workers over the next 12 months. This is up by four points from last month.

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London named best city in the world for work

London named best city in the world for work

A study from management consultant firm the Boston Consulting Group (BCG) has named London as the best city in the world to work in.

The research was the largest-ever study of workforce migration trends, with 366,000 workers from nearly 200 countries being surveyed.

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Open Banking could be worth £7.2bn by 2022, report shows

Open Banking could be worth £7.2bn by 2022, report shows

A report from Big Four accountancy firm PwC has predicted that the Open Banking sector could be worth £2.8bn by the end of the year and £7.2bn by 2022.

The report, entitled “How to Seize the Open Banking Opportunity”, highlighted the challenges of getting businesses to make use of the initiative, which involves banks sharing customer data with third-party firms.

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Women in Finance Awards celebrates women in financial services sector

Women in Finance Awards celebrates women in financial services sector

The Women in Finance Awards 2018 has celebrated the achievements of women working across a wide range of sectors in financial services.

More than 220 finalists were recognised at the European finance industry’s biggest diversity event, which took place in London earlier this week.

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APSCo figures show increase in permanent finance workers

APSCo figures show increase in permanent finance workers

The latest figures from the Association of Professional Staffing Companies (APSCo) have shown that the number of candidates securing permanent placements in the financial services sector increased by 17% year-on-year in May 2018.

The figures, which focus on professional recruitment, also showed that while there was a drop in permanent vacancies, the number of candidates in permanent jobs increased by 9% over the 12-month period.

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Nationwide launches £50m fund for fintech businesses

Nationwide launches £50m fund for fintech businesses

UK building society Nationwide has launched a £50m fund aimed at financial technology businesses in the UK.

The fund will enable fintech companies to develop innovative products and services, with senior members of Nationwide’s staff also providing support to businesses.

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Number of women in FTSE 100 positions rises, figures show

Number of women in FTSE 100 positions rises, figures show

Figures published by the Hampton-Alexander Review have shown a rise in the number of women in FTSE 100 board positions.

The government-backed review was launched in 2016 and aims to get more talented women into senior roles, with FTSE 350 businesses being given a target of having 33% of women in FTSE 100 board positions by 2020.

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Lloyds Banking Group to become first founder of LORCA

Lloyds Banking Group to become first founder of LORCA

Lloyds Banking Group is set to become the first founding partner of a government-funded cyber innovation centre that has opened in London.

The London Office for Rapid Cyber-security Advancement (LORCA), which was launched by Digital Secretary Matt Hancock and is based in East London, will provide support to cyber-security start-ups, with a focus on businesses in the financial services sector.

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Magpie businesses could boost UK economy by more than £100bn

Magpie businesses could boost UK economy by more than £100bn

The Confederation of British Industry’s Director-General Carolyn Fairbairn has highlighted the importance of businesses taking a magpie approach and seeking out new technologies, stating that it could help to boost the UK economy by more than £100bn.

Fairbairn is also set to call for more support for Britain’s medium-sized businesses (MSBs) at the CBI’s MSB Summit to help them be more productive and improve the UK’s economic growth.

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EY to help create 100,000 professional jobs for women

EY to help create 100,000 professional jobs for women

Big Four accountancy firm EY has teamed up with careers site SheWorks! to create 100,000 professional job opportunities for women globally by 2020.

The initiative aims to enable more women to work remotely in the gig economy and help them to feel more included in the workplace.

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