Banking boost as jobs start to return

Alexandra Kelly, director at Wapping-based pre-employment screening firm Powerchex, said: "It's going crazy. Not just now, it started before Christmas and it's gone unabated since then.

"Many of the firms were waiting. They were not hiring graduates but just replacing staff they lost. Now they are afraid of being left behind."

The rise of job offers has resulted in Powerchex having to double staff numbers to 60.

The company has seen a recruitment drive for graduates mainly in the retail banking sector but also in larger investment banks.

Alexandra also believes these employment trends are limited to London's financial district.

She said: "I've been hearing from other companies in our line of work who deal with different sectors. They are not experiencing the same strong rush, so this really is a City of London and Canary Wharf phenomenon."

Neil Owen, a regional director at Robert Half, recruitment agreed there was renewed confidence in Canary Wharf and the City.

He said: "We're seeing an increase in companies looking to hire in their finance teams across all levels."

"History would tell us it's the industries hit first that recover first. Financial services took a hit quicker so it was always likely it would see the increase first.

"Our own research in March with chief financial officers found that nearly half were a lot more confident of the company's prospects compared to six months previous when 84 per cent were pessimistic."

The survey also found 17 per cent of CFOs were looking to hire permanent accountancy and financial staff over the next six months.

Neil said these averages were highest in the capital.

He added he believed much of the renewed optimism and desire to recruit was down to a more mobile, talented jobs market.

He said: "There's a renewed confidence within candidates to look for new opportunities.

"This time last year people wanted to stay with their current employers and didn't want to risk moving and being the last one out first one in. But now they are looking to move on."

Other recruitment agencies, including Hays and Robert Walters, also reported stronger than expected figures on the back of this recruitment boom.

Paul Venables, finance director of Hays, said: "There has been a gradual increase in private-sector hiring, particularly by the banks, offset by reductions in the public sector. So far this has been a London recovery."

Robert Walters, chief executive of Robert Walters, said: "The group is benefiting from increased hiring activity in the UK particularly in the banking sector."

Canary Wharf's banks were tight-lipped on their current recruitment policies, refusing to comment on headcounts.

But The Wharf understands that most are recruiting to replace staff lost during the economic crisis, with the bulk of that recruitment taking place at graduate level.

Institutions such as Barclays, Morgan Stanley and HSBC have all been part of an upward trend of recruitment, but advise prospective employees to try and get work experience through an internship before applying.

An HSBC spokesman said: "Academic qualifications are the ticket to the game, but to play the successful graduate needs to have some practical skills, the confidence to speak out when required and a fit with the organisational values."