Survey warns of UK financial expat exodus
More than one in 10 of the UK’s financial services workers will not be giving out Christmas presents this year, while nearly one in three of overseas staff working in the UK do not expect to be working in the country next year, according to a new survey adding to the gloom in London’s financial sector.
A survey of 550 financial professionals published today by eFinancialCareers, the careers website for banking and finance staff, found that more than half of the UK-based professionals polled are from overseas, and of those 29% do not expect to be in the UK next year.
The majority of those expecting to leave the UK are anticipating returning to a city in their country of origin, while 35% are considering moving to emerging financial centres such as Dubai or Shanghai, according to the survey, which claims the results show that signs are emerging of highly skilled overseas professionals in the UK considering whether the time has come for them to move on.
John Benson, founder and chief executive of eFinancialCareers, said: “Employers in the UK’s financial centres should take note. Overseas workers represent a highly skilled talent pool and any emerging financial centre would be keen to attract them.”
The survey also found that 53% of respondents are not planning to hand out any individual presents worth more than £250 during the festive season, with 11% claiming they will not be giving gifts at all this year.
The poll comes just days after a high-level taskforce commissioned by Mayor of London Boris Johnson published a report on how the city can sustain its status as the world’s leading financial centre, of which one of the key recommendations was to make London the location of choice for people starting out and progressing in their financial services careers.
-write to vahuja@efinancialnews.com
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