jobs

Defined contribution schemes could be among the employee benefits that people in HR jobs are asked to manage in the years to come.

Previously, pensions in many workplaces have operated on a final salary basis, with employers paying out according to the level reached by the individual at the end of their career.

However, this is now changing as more final salary pension schemes close their doors - an event that Hargreaves Lansdown pensions analyst Laith Khalaf calls "the end game" for such products.

Instead, he expects that people in HR jobs and financial decision makers in companies across the UK will see greater use of defined contribution pensions in the years to come.

These offer a level of confidence to employers, he explains, due to the fact that they can be aware from the outset of how much they will have to put into participants' accounts in any one year.

Find information on the latest Human Resources roles at Poolia Recruitment Specialists

Updated: 26 August 2010.
Categories: human-resources, jobs, market-and-industry-news.

Permanent jobs could still be hard to find for the unemployed despite relocating as part of the coalition's new proposals, claims one expert.

Relocation for a permanent placement does not necessarily guarantee a job, says one expert, despite being the coalition government's latest initiative to get more people into permanent positions.

In a recent interview published in the Sunday Telegraph, Iain Duncan Smith revealed plans to relocate unemployed people to areas where there were jobs. But Phil Flaxton, chief executive of Work Wise UK, warned that relocation does not mean a definite job.

He said: "Overall it is a very sound move. However, I think it could be difficult to implement and it does not necessarily guarantee that they are going to get a job."

Forcing people to relocate could also put them in difficult situations with hard decisions about what to do with dependent family members, he warned.

Figures released this month by the Office of National Statistics showed that unemployment rose again in April to reach 2.47 million, with those having been unemployed for 12 months or more hitting 772,000, the highest since April 1997.

Updated: 29 June 2010.
Categories: jobs, market-and-industry-news, recruitment.

People in HR jobs are learning about a new talent programme aimed at keeping top performing staff from the lure of head hunters.

The Co-operative Group, which employs around 114,000 and has 5.5 million members, wanted to build a "pipeline" of future leaders as it builds on its recent success.

Jackie Lanham, director of resourcing and development with the firm, said it wanted to identify promising talent and it has conducted external research in order to understand how potential is unearthed.

"With traditional organisational development intervention you start at the top first, but we decided to go where the need was, at that lower level," she said.

However, according to Ms Lanham, the only measure of how successful this project has been is when young applicants of promise begin to take up roles across various aspects of the Co-operative's business, which may leave a blueprint for people in HR jobs to follow for their companies.

Find information on the latest Human Resources roles at Poolia Recruitment Specialists

Updated: 14 May 2010.
Categories: human-resources, jobs, market-and-industry-news.

People in accounting jobs are being told that the introduction of an international regulator is "worthy of debate".

Last week, EU commissioner for internal markets Michel Barnier suggested that it is the right time for European leaders to discuss the idea of a body, recognised by the world's economies.

Ian Powell, a senior partner at PricewaterhouseCoopers - the UK's largest accountancy firm - called for a "new attitude" to global auditing rules but said that individual tastes may prove a stumbling block.

"Most countries think their regulation is good and it is their system which should be applied - that is going to make it difficult to convince them to give up their system," he added.

But he added that anything that encourages consistency is this area needed to be discussed.

Furthermore, Accountancy Age commented that, in an age of international corporations and auditing firms, it would make sense to have a global regulator.

Find information on the latest Finance & Accounting jobs at Poolia Recruitment Specialists

Updated: 06 May 2010.
Categories: finance-and-accounting, jobs, market-and-industry-news.

People in HR jobs are learning that a global computer manufacturer has launched a new initiative to help its top performing staff to understand a modern context for doing business.

IBM vice-president Stan Litow told Meettheboss.tv that the Corporate Service Corps (CSC) marked the start of a transformation for the organisation, which allowed it to become "more connected" to its business strategy and mission, HR Magazine reports.

Mr Litow claimed that corporate social responsibility and citizenship is linked to a smarter planet and the firm's attitude had boosted its ability to retain its top performers.

He added that a more connected workforce could also help a company navigate a tricker economic climate

Last month, IBM's global head of human capital management Tim Ringo admitted that people in HR jobs with the firm had helped to rescue it from potential collapse in the mid-1990s to its all-time high share price.

Find information on the latest Human Resources roles at Poolia Recruitment Specialists

Updated: 06 May 2010.
Categories: human-resources, jobs, market-and-industry-news.

People in HR jobs are being told that their peers could lead the way in encouraging entrepreneurial leaders and economic growth.

That is the view of Chris Roebuck, a visiting professor of transformational leadership at the Cass Business School and a former global head of people with UBS.

Writing for HR Magazine, he stressed that people in personnel can help nurture this by making the whole organisation understanding what being entrepreneurial means.

Professor Roebuck also suggested that people -rep in HR jobs could identify those with a particular flair and create a team of "key influencers".

"Once you have created a culture across the organisation where entrepreneurial behaviour can flourish, people will take the initiative," he added.

Last week, at a conference hosted by the Chartered Institute for Personnel and Development in which the figure responsible for HR jobs at IBM Tim Ringo told delegates that its employees had helped rescue the company from possible collapse in the 1990s to an all-time share price high.

Updated: 28 April 2010.
Categories: human-resources, jobs, market-and-industry-news.

People in permanent placements are learning that more workers in the UK are considering new roles or a change of jobs, according to research.

Figures from HireScores.com revealed a significant rise in the number of individuals who were thinking about a change of position or moving to a different profession.

However, as company spokesperson Lisette Howlett suggested, this may owe much to the recession[,] as companies are concluding savings initiatives including staff cuts and more promising job -rep vacancy data.

The Recruitment and Employment Confederation recently said that the number of permanent placement positions had increased, but its chief executive Kevin Green has repeatedly warned of the possible impact of a public sector drop-off.

Ms Howlett stressed that a strong CV and personal statement, combined with a depth of work experience, is the best way forward for candidates, particularly with more competition for each job, with HR industry figures predicting a war on talent.

Updated: 26 April 2010.
Categories: jobs, market-and-industry-news, permanent-placement.

An expert says people in senior HR jobs should lead by example by making public sector performance more efficient

People in HR jobs are learning that bosses in the industry are being encouraged to take a lead on public sector job cuts.

Noel O'Reilly, a former editor of Personnel Today, said that human resources chiefs must respond after Alistair Darling committed the government to cutting £11 billion from public services in his Budget speech last week.

Mr O'Reilly also stressed that measures must be taken to address the fall in productivity within the public sector since Labour swept to power in 1997.

He recommended a remodelling of how people in HR jobs deliver services to organisations and advocated the sharing of HR services as suggested by the Local Government Association last week.

He added: "The profession must develop credible performance measures on absence and productivity and share good practice on leadership and organisational design."

Last week, Dr Ros Altmann criticised the government for its approach to cutting public spending and the measures it has taken in the Budget.

Dr Altmann said that rather than cutting expenditure, this Labour government had increased spending and was relying on economic growth to rescue the situation.

Updated: 12 April 2010.
Categories: human-resources, jobs, market-and-industry-news.

Stability is a watchword for people in finance jobs at building societies, according to a Treasury discussion paper.

A new government document will seek to secure more stability for those in finance jobs at building societies.

The discussion document from the Treasury aims to deal with employees working in building societies, which are subject to certain restrictions that do not apply to banks, including limitations on raising funds from non-members.

Although those in such finance jobs have fared relatively well because of the strong response from building societies to the financial crisis, the discussion paper should help ensure long-term stability.

The paper will take views from investors, members and societies on various issues from modifications to existing capital instruments to the need to enhance the government's role in supporting societies.

Paul Myners, the financial services secretary to the Treasury, noted the important position that building societies have long held in the industry.

Mr Myners said: "The sector encourages a diverse financial system and offers a strong business model. The government is keen to ensure that this remains the case in the long term."

As the UK's economics and finance ministry, the Treasury is primarily responsible for the formulation and implementation of financial and economic policy with the aim of producing measured growth.

Updated: 12 April 2010.
Categories: banking-and-financial-services, finance-and-accounting, jobs, market-and-industry-news.

UK's eighth largest finance and accounting firm wades into US market with Weiser merger

People in accounting jobs are learning that the Mazars has agreed to merge with American firm Weiser.

Mazars, which is the eighth largest accountancy firm in the UK by audit fee income, is to expand into the US market after a change of heart.

Chief executive Patrick de Cambourg told Accountacy Age in January that the company "felt at ease with the move" after worries about the risk of litigation that might affect both Mazars and other companies in the sector.

Founded almost 90 years ago, Weiser has developed into one of America's top finance and accounting firms with an annual turnover of more $135 million (£89 million).

According to Accountnacy Age, the combined company will have around 12,500 staff across more than 50 countries, including the UK.

Updated: 12 April 2010.
Categories: finance-and-accounting, jobs, market-and-industry-news.

People in accounting jobs are learning that insolvency practitioner Deloitte is taking decisive steps to a UK rail business

Finance and accounting firm Deloitte, in its role as administrator to rail infrastructure business Jarvis, has said it will cut jobs to preserve its future.

The big-four accountancy giant had four of its leading insolvency practitioners called in on Monday to help steady the ailing company.

In total, 1,100 jobs will go at Jarvis' offices in Newcastle, Doncaster, Glasgow, Peterborough and Leeds as well as the firm's head office in York.

Deloitte's joint administrators Neville Kahn, Nick Edwards, Phil Bowers and Ian Brown told Accountancy Age that there was a significant amount of interest in Jarvis' facilities management arm, known as Jarvis Accommodation Services.

Mr Edwards said: "Our immediate priority will be to work with stakeholders to stabilise the business while we identify which parts of the business we can continue to trade and seek buyers for as going concerns."

The finance and accounting firm's insolvency expertise forms just part of its operations in the UK and Switzerland and employs more than 11,000 people.

Deloitte recently bought out the accounting arm of Drivers Jonas earlier in the year and last month merged its real estate interests.

Updated: 07 April 2010.
Categories: banking-and-financial-services, finance-and-accounting, jobs, market-and-industry-news.

Too many companies are ignoring the flexibility and potential offered by temporary staffing, according to the Professional Contractors Group (PCG).

The body has launched a campaign to promote the benefits of using specialist workers on a short-term or freelance basis.

It explained that there are many highly-skilled professionals now working on a freelance basis, providing expertise in areas such as IT, banking and accountancy.

John Brazier, the PCG's managing director, said using such skilled professionals on a temporary basis can help companies to deliver specific projects quickly and gain a competitive advantage over their rivals.

He added: "The talent pool of freelance workers offers flexibility to companies, groups and organisations; it helps them manage risk and unlock innovation and talent within their business."

The latest Report on Jobs, published by KPMG and the Recruitment & Employment Confederation, revealed that an increasing number of companies are turning to temporary staffing solutions to fill vacancies.

Updated: 15 February 2010.
Categories: career, jobs, market-and-industry-news.

A man in a senior financial services job with Royal London 360 has been promoted to the company's board.

Terry Kelly, who has worked for the company since 1999 in a variety of roles, is moving from head of customer services into a new position as director of customer operations.

In his new financial services job, Mr Kelly will be responsible for designing a strategic service model for the firm's operations in the Middle East, as well as managing a new Customer Thinking Initiative.

David Kneeshaw, chief executive of Royal London 360, said Mr Kelly was deserving of his promotion.

"It is a fitting reward for his hard work and dedication since joining us. His experience, coupled with the high regard in which he is held by members of his team, makes him an asset to the company," he stated.

Last month, the company gave its international sales manager Mike Lane a new financial services job as Royal London's first-ever wrap relationship manager.

Updated: 03 February 2010.
Categories: banking-and-financial-services, finance-and-accounting, jobs, market-and-industry-news.

Many people in senior HR jobs have admitted to rejecting candidates applying for a position at their company after viewing an unfavourable social media profile of them.

According to research carried out by Microsoft, 41 per cent of HR managers have rejected an applicant because of this reason, while 64 per cent of people in HR jobs believe it is acceptable to consider what is on someone's Facebook or MySpace site when choosing potential employees.

Cliff Evans, head of privacy and security at Microsoft UK, said: "Reputation and information sharing as a privacy issue should be a major concern for individuals, particularly in a challenging economic environment where jobs are scarce."

The figures for those in the UK are far above our European neighbours.

In Germany, only 16 per cent of people in HR jobs believe such behaviour is allowable, while only 14 per cent of those questioned about the topic in France would reject a job applicant due to their online activities.

Last November, Labour MP Ashok Kumar tabled a motion in parliament calling for people in HR jobs to be legally required to provide a response to job applicants, whether they are selected for interview or not.

Updated: 29 January 2010.
Categories: human-resources, jobs, market-and-industry-news.

People in HR jobs believe the worst of the recession has passed and are now starting to refocus on attracting new employees, a survey has suggested.

The Corporate Learning Priorities Survey 2010 said that HR professionals are feeling more secure about the future of their companies.

"HR professionals . anticipate turning their attention to succession planning and attracting new talent into the business," it said.

Henley Business School, which carried out the research, questioned 119 people in HR jobs and found that 67 per cent of them believe that the development of managers was one of their top two priorities this year, reports Personnel Today.

It was added that so-called "softer skills", including training in leadership styles, would also be a priority for people in HR jobs this year.

But last week, Martin Tiplady, HR chief for the Metropolitan Police, warned people working in the sector that HR needs to shed its "cuddly image" and adapt to the changing economic realities facing the UK.

Updated: 27 January 2010.
Categories: human-resources, jobs, market-and-industry-news, recruitment.

People employed in the City of London are leaving their banking jobs to move overseas or into positions at private equity firms or hedge funds, an industry executive has claimed.

Speaking to Sky News, Michael Geoghegan, the chief executive of HSBC, said that the higher levies currently being imposed on those in banking jobs were beginning to take effect.

"I know a large number of bankers are moving out of the UK," he said.

He added that the exodus may continue to grow if investment bankers are penalised with further tax increases.

"All will move to what I call shadow banking or twilight banking, they will move to small offices where they will not be regulated," Mr Geoghegan stated.

His words come as a contradiction to a prediction made last week by Savvas Savouri, chief economist at Tosca.

He predicted to the Financial Times that around 100,000 new banking jobs will be created in London over the next decade as nations with emerging economies, such as China and India, seek a western base for their financial operations.

Updated: 25 January 2010.
Categories: banking-and-financial-services, jobs, london, market-and-industry-news.

People in HR jobs must change the way they operate if the profession is to survive in today's economic climate, it has been warned.

Speaking at the European HR Directors' Business Summit in Birmingham, Martin Tiplady, HR chief for the Metropolitan Police, said that those in HR jobs could see their role within businesses reduced or removed if the sector did not evolve.

"We need to change what we do - reposition ourselves as a cheaper, but more effective strategic offering," he stated. "We need to start using our muscle to drive serious organisational reform."

He added that it was vital that HR jobs managed to shake off their "cuddly image" to play a more leading role within businesses and organisations, reports Personnel Today.

Last month, research by Income Data Services revealed that HR jobs have not been too badly affected by the recession.

While 42 per cent of HR departments have kept employee numbers stable during the downturn, 23 per cent have actually managed to increase staff levels, reported the Financial Times.

Updated: 22 January 2010.
Categories: human-resources, jobs, market-and-industry-news.

People in HR jobs have predicted that employees working in the private sector can expect an average pay rise of about two per cent this year.

According to the results of research carried out by management consultancy Hay Group, 75 per cent of those in HR jobs with firms that froze salaries last year expect such caps to be lifted over the course of 2010.

Despite the optimism about remuneration, 90 per cent of those questioned said they believed the recession would get worse before the economy improved.

Claudia Canavesio, reward expert at Hay Group, said: "We are starting to see a cautious but growing optimism among UK organisations, reflected in a predicted recovery in salaries and bonuses."

"However, there remain significant challenges ahead."

Last month, the Chartered Institute of Personnel and Development (CIPD) predicted that unemployment will peak this summer - leaving around 2.8 million out of work at that point, reported Personnel Today.

Updated: 21 January 2010.
Categories: human-resources, jobs, market-and-industry-news.

Other financial services jobs at banks could be affected by the banking bonus tax.

The government's bonus tax will not just apply to those in banking jobs at financial institutions, HM Revenue and Customs (HMRC) officials have said.

Officials began briefing staff in banking jobs about the levy earlier this week and it was revealed that the tax will apply to other senior staff within City firms.

Senior IT workers in banks will definitely be affected, but it remains unclear as to whether people in marketing, legal and accounting jobs will also be subject to the new legislation.

Because the HMRC guidelines are vague as to who is affected, confusion remains in the City as the end of the year approaches and banks attempt to finalise their bonus payouts.

Angela Knight, chief executive of the British Banking Association, said of yesterday's meeting: "In some areas we are clearer now, in others we are awaiting clarification."

Last week, Guy Lamb, an employment partner at law firm DLA Piper, told Personnel Today that bankers were almost certain to want to make changes to their contracts in order to find a way around the levy.

Updated: 18 December 2009.
Categories: banking-and-financial-services, finance-and-accounting, jobs, market-and-industry-news.

Financial services jobs involving investment advice are set to be subject to reforms.

Investment advisers working in financial services jobs are set to be subject to new regulations regarding their professional standards.

The Financial Services Authority (FSA) has proposed the legislation in its Retail Distribution Review (RDR), which is now open to public consultation for a three-month period.

Under its plans, financial advisers, both independent and restricted, will have to adhere to common ethical standards, meet enhanced professional benchmarks and sit exams for new, higher-level qualifications.

Sheila Nicholl, the FSA's director of conduct policy, said: "We will closely supervise the necessary improvement in standards that we are seeking to bring about which, along with the other aspects of the RDR, will come into force from the beginning of 2013."

The Association of Independent Financial Advisers has welcomed the announcement and said it is looking forward to working alongside the FSA on the finer details of the proposed reforms.

It added that it was pleased the FSA had withdrawn an additional proposal to set up an Independent Professional Standards Board, due the potential costs of paying for the new body.

Updated: 17 December 2009.
Categories: banking-and-financial-services, finance-and-accounting, jobs, market-and-industry-news.

Effective HR policies have helped businesses in London survive the recession.

People in HR jobs have played an important role in businesses operating in London during the economic downturn, a new survey has revealed.

Data collected by the Confederation of British Industry and KPMG showed that effective HR policies had been vital to the survival of many firms.

Staff in HR jobs have been employed to carry out a range of different strategies, ranging from cutting expenses (37 per cent) to focusing on only essential recruiting (63 per cent).

HR staff have had to walk the fine line between retaining a company's best staff and ensuring its financial survival, the study reported.

The survey also found that 86 per cent of senior executives believe London is a good place to do business, while 47 per cent of companies are optimistic about their future business prospects, the highest figure since April 2008.

According to recent findings from the TaxPayers' Alliance, the importance of those in HR jobs is also being reflected in their salaries.

It revealed that four senior public sector HR executives are currently being paid more than prime minister Gordon Brown.

Updated: 09 December 2009.
Categories: human-resources, jobs, london, market-and-industry-news.

50 graduates will join Vodafone under its 2010 training scheme.

People looking for HR jobs may be interested to learn that new graduate jobs are to be created at mobile phone giant Vodafone, with HR training forming an important part of the apprenticeship.

The company will be hiring 50 graduates next year as part of its 2010 recruitment programme, with trainees spending time in its HR, finance and technology divisions, as well as on shop floors around the country.

Matthew Brearley, HR director for Vodafone UK, said: "We want to attract smart, internet-savvy people, who want to make a real difference by being part of our business."

The scheme will start in September 2010 with successful graduates being offered a £25,000 salary.

At the end of the one-year training programme, Vodafone will decide which of the graduates it will take on it full-time roles.

Earlier this month, IBM UK & Ireland HR director Jonathan Ferrar told Personnel Today that his company was planning to increase its graduate scheme from 94 places in 2009 to 150 next year.

Updated: 09 December 2009.
Categories: human-resources, jobs, market-and-industry-news.

City firms have been warned about the potential legal dangers involved in headhunting staff from rival organisations.

People in HR jobs in the City have been urged to be cautious about poaching staff from rival firms by a legal expert.

Fiona Bolton, an employment partner at law firm Eversheds, told Personnel Today that while the practice was not illegal, those in HR jobs must acknowledge the conditions affecting the departure of their new employee from their previous firm.

"Businesses should be wary of embarking on team raids and should always consider any express or implied restrictions to which a departing employee may be subject," she said.

Ms Bolton added that the frequency of these headhunting manoeuvres appeared to be on the increase in the city.

Earlier this month, it was revealed that more than 1,000 former Royal Bank of Scotland (RBS) investment bankers had joined other City companies, while last week broker Tullett Prebon took rival BGC Partners to court after the latter company poached 50 of its top-earning brokers.

Last week, the RBS board of directors threatened to resign if the government did not allow them to pay their investment bankers around £1.5 billion in bonuses as it fears further departures will occur soon.

Updated: 08 December 2009.
Categories: banking-and-financial-services, finance-and-accounting, human-resources, jobs.

Working in a public sector HR job can be more lucrative then running the country, a new report has shown.

Four executives in top HR jobs are earning more money than prime minister Gordon Brown, it has been revealed.

According to a list compiled by the TaxPayers' Alliance, the most lucrative public sector HR job in the country is held by Clare Chapman, the director general of the NHS workforce.

The report said her pay has increased by ten per cent in 2009 to leave her with an annual salary of £267,500.

In comparison, Gordon Brown is paid slightly more than £194,000 a year.

Two men in HR jobs with the BBC are also paid more than the prime minster, with John Vickerman, director of shared services, and Mike Goodie, director of employee relations, both taking home £205,000 each.

John O'Connell, policy analyst at the Taxpayers' Alliance, attacked the figures.

"Taxpayers want genuine transparency, accountability and restraint in setting top public sector pay," he said.

Last month, Lucy Adams, the fourth HR figure on the list paid more than Brown, told BBC in-house magazine Ariel that she understood people may be angry when they heard of her £320,000 a year salary as HR director of people.

Updated: 07 December 2009.
Categories: career, human-resources, jobs, market-and-industry-news.

Officials in senior banking jobs have had their commitment to reform publicly questioned by the chief executive of the Financial Services Authority (FSA).

Hector Sants told a London audience that many staff in top banking jobs were not taking in the lessons of the global financial crisis.

"There remains an absence of the acceptance of collective responsibility for what has happened," he said.

"I personally remain unconvinced that all senior management have taken on board the need to change."

Mr Sants went on to explain his belief that the FSA has toughened up its act and was delivering a stronger supervisory approach to the work of those in the financial sector.

Last month, the FSA wrote to 5,000 chief executive officers to warn them it intended to use its powers to vet appointments and even interview candidates applying for top banking and finance jobs.

It said companies would have to prove to the FSA that anyone it was employing was a fit and proper person to fill the role.

Updated: 09 November 2009.
Categories: banking-and-financial-services, finance-and-accounting, jobs, market-and-industry-news.

People in HR jobs have been given a warning about the prevalence of bullying in the workplace.

Trade union Unison has revealed that more than one in three workers have suffered from workplace bullying in the past six months, a figure that is double the amount that was recorded in 1997.

In worrying news for staff in HR jobs, every single one of the 7,000 people interviewed for the poll said that they believed bullying is embedded in workplace culture.

Dave Prentis, Unison general secretary, said: "The fact that bullying has doubled in the past decade is shocking".

"It makes sound moral and financial sense to look after your workforce."

Unison is now calling for employment law to be changed to include an anti-bullying policy in the current Dignity in the Workplace Bill.

Last week, the National Institute for Health and Clinical Excellence told businesses they could save up to £250,000 a year by tackling work-related stress more effectively.

Updated: 09 November 2009.
Categories: human-resources, jobs, market-and-industry-news.

The British Bankers' Association (BBA), which represents those in banking jobs, has joined in with the debate on Gordon Brown's proposals that the G20 should levy taxes on financial transactions.

Mr Brown said any such move would need global support and regulation but his comments have been met with criticism from several sources.

US Treasury secretary Timothy Geithner told Sky News that the proposal "is not something we are prepared to support."

The IMF, the European Central Bank and Russia have also dismissed Mr Brown's idea.

Meanwhile, the BBA said that, although those in banking jobs understood the need for change and supported Mr Brown's overall aims, this may not be the best way to go about it.

"Capital and regulatory change needs to be properly costed and the impact of the whole reform package studied and the timetable for change clearly set out," it said in a statement.

It added that it was looking forward to hearing the outcome of the discussions currently taking place at the G20 meeting in Scotland.

Updated: 09 November 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

Staff working in HR jobs have been warned that discrimination laws may be open to abuse following a landmark ruling.

Earlier this week, a judge ruled in favour of man hoping to pursue an employment claim against his former employers on the grounds that his views on climate change should be subject to the same protection as religious beliefs.

Tim Nicholson, a former head of sustainability at property company Grainger, is claiming he was sacked from the firm because of his environmental beliefs.

Speaking after the ruling, Mr Nicholson's solicitor Shah Qureshi said that the judgement meant belief in man-made climate change can be classed as capable of being a philosophical conviction.

Helen Giles, HR director for homeless charity Broadway, told Personnel Today that the rules were preposterous as "belief is a totally subjective thing."

"The way they have been drafted and the way legislature is interpreting them is leaving the field wide open for people to abuse them left, right and centre," she claimed.

Updated: 06 November 2009.
Categories: human-resources, jobs, market-and-industry-news.

Executives holding top London banking jobs have been approached to fill the post of ITV chairman, according to media reports.

John Peace, chairman of Standard Chartered, is believed to be one of the frontrunners for the role, alongside influential City figures such as Bob Wigley and John Nelson, reports the Guardian.

Mr Wigley is now chairman of Yell but in the past held an important banking job as head of European operations for Merrill Lynch, while Mr Nelson was chairman of investment bank CFSB Europe.

In April 2009, current ITV chairman Michael Grade announced he would be stepping down from the job but the company have struggled to fill the post since then.

HMV boss Simon Fox turned the job down in the summer, as did former BSkyB executive Tony Ball in September.

Mr Peace only took his banking job as Standard Chartered chairman in July this year.

He said at the time: "This is one of the best jobs in banking."

Updated: 06 November 2009.
Categories: banking-and-financial-services, finance-and-accounting, jobs, market-and-industry-news.

Staff at the Royal Bank of Scotland (RBS) are threatening to look for new banking jobs following new bonus rules imposed on the company, a media report has said.

According to the Daily Telegraph, headhunters working in the City have been "inundated" with CVs from those currently in RBS banking jobs.

Earlier this week, it was revealed that anyone at the firm earning more than £39,000 per year would not be receiving bonuses for 2009.

RBS chief executive Stephen Hester told workers: "We remain determined to pay fairly and competitively where performance so merits."

But employees reportedly remain angry about plans that will see cash bonuses deferred until 2012 at the financial institution.

From 2010, 50 per cent of bonuses will be paid in the form of shares or bonds linked to company performance while the rest will remain unpaid for two years.

Earlier this year, the bank reported a pre-tax loss of £176 million for the first six months of 2009.

Updated: 06 November 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

Lord Sugar's finance job of enterprise tsar has come under attack from the Federation of Small Businesses (FSB).

The FSB claims that his position in the role is no longer tenable after he said that 85 per cent of small businesses did not deserve bank loans and that some of the companies should be allowed to go bust.

He added that many of the owners of these firms were "moaners" who "live in Disneyland."

John Wright, FSB national chairman, said: "Lord Sugar appears to have let his TV personality from The Apprentice take over and the language he has used to describe this country's small business owners is hardly appropriate given his current role."

He went on to call for Lord Sugar to resign and for Gordon Brown to appoint someone with more understanding of small businesses to the finance job.

Mr Wright added that small businesses were vital to the country as they employ 60 per cent of the UK's private sector workforce.

Updated: 06 November 2009.
Categories: finance-and-accounting, jobs, market-and-industry-news.

Jobs in the accounting and banking sectors have helped the UK record its third consecutive monthly increase in the amount of job appointments, an expert has said.

Research carried out by KPMG and the Recruitment & Employment Confederation revealed the sharpest rise in permanent positions for two years.

Bernard Brown, head of KPMG business services, said the results of the study were encouraging.

"Sectors like accounting and banking lead the recovery and we may well have reached the tipping point into growth, driven by returning confidence in the private sector," he explained.

But he went on to warn that it was yet to be seen how the looming spectre of public sector job cuts would affect the wider jobs market.

Last month, a survey by the Ashdown Group revealed the market for human resources jobs was also improving, with vacancies rising by more than 11 per cent in the sector during October.

Updated: 04 November 2009.
Categories: banking-and-financial-services, finance-and-accounting, jobs, market-and-industry-news.

The shock move has seen him quit the bank's board of directors with immediate effect, although he will remain in place to help carry out the handover of the departments he ran.

Bob Diamond, Barclays president, will now be responsible for commercial banking operations, while Antony Jenkins, current chief executive of Barclaycard, will take charge of a new global retail banking unit.

Mr Seegers had been in his banking job with Barclays since joining the company from Citigroup in 2006.

At Citigroup, his most notable achievement was running its consumer business arm in Asia, which he successfully turned into its fastest-growing division over the course of three years, reports the Daily Telegraph.

Last month, Barclays announced it was to purchase Standard Life Bank for £226 million, a deal that is expected to go through in early 2010 subject to regulatory approval.

Updated: 03 November 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

Staff in finance services jobs should be represented by their own professional body, according to a new study.

Research by the Chartered Institute for Securities & Investment (CISI) revealed that more than three-quarters of those working in finance services jobs believe the Financial Services Authority (FSA) should begin consultation on the formation of a professional body to which membership would be mandatory.

Around 500 CISI members were consulted for the survey with the organisation visiting 14 UK cities.

Simon Culhane, chief executive of the CISI, said: "The results of our roadshows clearly demonstrate our members' commitment to high standards in their firms."

Last month, the FSA wrote to 5,000 chief executive officers to tell them it would be involved in the vetting process for top finance services positions and will interview prospective candidates themselves.

The watchdog said the move was necessary to ensure that fit and proper persons filled important financial jobs.

Updated: 03 November 2009.
Categories: finance-and-accounting, jobs, market-and-industry-news.

Jobs in HR have remained fairly resilient during the economic downturn and now the industry is now starting to show signs of recovery, according to the HR Society.

Andrew Mayo, chairman of the HR Society, said he was not surprised there had been a reported increase in HR vacancies last month.

According to an Ashdown Group survey, HR vacancies rose by more than 11 per cent in October.

Mr Mayo said that HR jobs had suffered during the financial crisis as companies sought to cut back, but the industry had not been as badly hit as other sectors.

"There is often more HR work to be done when organisations are contracting," he explained.

"Compared to IT over the last year, the HR market has been relatively resilient for permanent positions, being less dependent on sub-contractors."

Mr Mayo said he expected to see the encouraging signs of recovery continue in early 2010, when companies would begin post-holiday hiring and set their budget agreements for the year.

Updated: 03 November 2009.
Categories: human-resources, jobs, market-and-industry-news.

JP Morgan has announced the appointment of three new members of staff to top financial services jobs in its UK asset management division.

The senior portfolio managers who have been appointed by the company are Didier Lambert, Alain Defise and Michal Wozniak.

All three men, who previously worked at Fortis Investments, will become vice presidents in the Emerging Markets Debt team at JP Morgan.

Mr Lambert will be responsible for implementing and managing local market investments for client portfolios, while one of the primary roles for Mr Defise will involve identifying credit opportunities.

Meanwhile Mr Wozniak will be in charge of identifying investment opportunities in central and eastern Europe.

Last month, JPMorgan Chase, of which JP Morgan is a subsidiary, announced a net income of £2.2 billion ($3.6 billion) for the third quarter of 2009.

The figures are part of a wider recovery from the company, which has seen its shares climb from £0.05 ($0.09) in October 2008 to £0.50 ($0.82) one year later.

Updated: 02 November 2009.
Categories: banking-and-financial-services, finance-and-accounting, jobs, market-and-industry-news.

The British Bankers' Association, which represents those in banking jobs, has said it is not shocked with Alistair Darling's announcement that the government is considering splitting up parts of Lloyds and Royal Bank of Scotland (RBS).

In a statement it said: "The chancellor's announcement that there is to be a restructuring programme for those banks where there is a major public stake is neither unexpected or surprising."

It said that it was always intended that public financial support for the banking industry would be a short-term move.

Mr Darling said he is planning the break-up of branches and financial services operations at Lloyds and RBS in an attempt to bring about a safer and more competitive banking system in the UK.

He told the BBC Politics Show of his intentions, which were met with opposition from Liberal Democrat Treasury spokesman Vince Cable.

Mr Cable said that there was no justification for a rapid sell-off of state assets in the current economic environment.

Updated: 02 November 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

Those in human resources (HR) jobs should be helping employees in their care to control their stress levels, according to one medical expert.

The Health and Safety Executive has recently revealed that work-related stress is the UK's second biggest occupational health problem, with almost 500,000 workers suffering from the issue during the 2007/08 financial year.

Speaking to the Guardian, Dr Jenny Leeser, a clinical director at Bupa, said that stressed-out workers should turn to those in HR jobs for help.

"The important thing is to have a word with management, HR or occupational health," she suggested to workers who may be suffering from the experience.

"Discuss how any work-related issues - whether it's too much work, not enough work or problem relationships - can be improved."

Last month, Stephen Overell, associate director of the Work Foundation, told Personnel Today that another thing HR staff could do to help employees was to better inform them about their employment rights regarding issues such as holiday entitlement.

Updated: 02 November 2009.
Categories: human-resources, jobs, market-and-industry-news.

Human resources (HR) workers should be forced to respond to every job applicant, according to a Labour MP who has tabled a motion in Parliament on the issue.

Ashok Kumar, who represents Middleborough South and Cleveland East, said it was extremely demoralising for job applicants not to receive replies and HR staff should take time to acknowledge all jobseekers who have sought a position at their company.

"Employers should be legally compelled to contact all applicants both to acknowledge receipt of application and again after selection has been made to notify applicants whether they have been successful," he said in a motion presented to the House of Commons.

Mr Kumar, who lost his parliamentary seat in 1992 before being re-elected in 1997 when the party returned to power, is a member of the Parliamentary Labour Party Trade and Industry Committee.

But his Early Day Motion has only received support from seven other MPs so far.

Updated: 02 November 2009.
Categories: human-resources, jobs, market-and-industry-news.

A worldwide poll of people working in top banking jobs has revealed that one in ten bankers believe they are in line to receive a record bonus payout at the end of the year.

Only 25 per cent of those interviewed expected to see a drop in bonus levels, with the majority of financial executives predicting that the worst-case scenario for their bonus payouts was that they would remain at the same levels as 2008.

The Bloomberg Global Poll revealed that more than half of those in banking jobs believe that government attempts to control bonus levels will only stifle innovation in the financial sector.

Most positive about bonus prospects were those working in Asian banking jobs, with European and US respondents slightly behind them.

Earlier this month, Goldman Sachs caused worldwide controversy when it was revealed that its 30,000 members of staff were set to share a bonus pot of almost £10 billion.

Updated: 02 November 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

Staff in human resources (HR) jobs need to do more to promote employment rights among workers under their jurisdiction, according to an employment thinktank.

Speaking to Personnel Today, Stephen Overell, associate director of the Work Foundation, said: "Ensuring people know their rights is a simple, straightforward bit of good that HR can do that is more practically useful than creating stacks of new policies and procedures."

Earlier this week, a report from the Department for Business, Innovation and Skills revealed that more than 20 per cent of workers did not feel they were fully aware of all their employment rights, especially in relation to issues such as holiday entitlement and working hours.

The study also stated that, in the past five years, around 30 per cent of workers had been involved in an employment rights issue at work.

Under UK employment law, people working five-day weeks are entitled to 28 days of holiday leave per year.

Updated: 29 October 2009.
Categories: human-resources, jobs, market-and-industry-news.

Those in human resources jobs on charity and voluntary boards get paid almost ten per cent more than other directors, according to new research.

Human resources and personnel directors took home an average annual salary of £75,000, almost £7,000 more than the average pay for directors of all kind in the sector.

More than 175 organisations and nearly 30,000 employees were interviewed for the 2009 Annual Voluntary Sector Salary Survey conducted by salary analyst CELRE, reports Personnel Today.

The study also revealed that the average pay of chief executives at organisations whose turnover was more than £50 million each year was close to £100,000 a year.

Those chief executives also received annual bonus payments equivalent to 9.5 per cent of their annual salary.

Last week, another CELRE survey revealed that almost one-quarter of employees face a pay freeze this year, a large rise on the six per cent of companies that carried out pay freezes

Updated: 29 October 2009.
Categories: human-resources, jobs, market-and-industry-news.

Under the terms of the deal, the good bank will take on customer deposits, top-rated mortgages and the bank's branch network.

Other banking operations will be put into the bad bank, which will be known as Northern Rock (Asset Management).

It will hold Northern Rock's toxic assets, such as its Granite mortgage securitisation vehicle and lower-performing mortgages that have been supported by government loans.

Gary Hoffman, chief executive of Northern Rock, said: "We are making good progress towards achieving the legal and capital restructure and will continue to work with the government and the FSA to achieve the necessary approvals."

Earlier this month, the lender, which is operating under government restraints following last year's bailout, announced a cut in its mortgage rates in a bid to make its products more competitive.

Updated: 29 October 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

Rory Hammerson, a fund manager at Lloyds Banking Group's Scottish Widows Investment Partnership (SWIP) Business, has resigned from his finance job with the company.

He had worked for the firm, which has bases in London and Edinburgh, for the past 12 years as lead manager on several of the organisation's European projects.

Most notable among his responsibilities in his finance job was co-managing the SWIP Pan European Smaller Companies Fund.

A spokeswoman told Reuters: "There are no imminent plans to replace Rory.

"But we will be looking to strengthen the team further down the line."

Despite the company not bringing in any new members of staff to replace Mr Hammerson, his place at the fund will be taken by Catie Wearmouth, who is currently a senior member of Scottish Widows' Europe desk.

In a busy week of changes at SWIP, the company also announced the appointment of Roger Webb as corporate bond investment director.

Mr Webb, who previously worked for Aviva Investors, will be based in SWIP's Edinburgh offices once he takes up his finance job with the company.

Updated: 29 October 2009.
Categories: finance-and-accounting, jobs, market-and-industry-news.

The UK banking operations owned by Banco Santander have reported their profits have doubled compared to this time last year.

Its banking operations in the country include Abbey, Bradford & Bingley and Alliance & Leicester.

Profit levels have reached £1.16 billion for 2009, a 58 per cent rise on the figure for the same period in 2008.

Antonio Horta-Osorio, Abbey chief executive, said: "We have seen a good performance from all business areas despite continued tough market conditions."

The strong performance of Santander's UK banking operation helped it record a £6 billion profit for the first nine months of this year.

Earlier this month, the company raised more than £5 billion through a share offering in Brazil.

In 2010, Santander's banking operations in the UK will be rebranded to take their owner's name.

Abbey and Bradford & Bingley will go through the change at the start of the year while Alliance & Leicester will follow later in 2010.

Updated: 29 October 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

Senior UBS banker Robin Budenberg is in line to become the chief executive of UK Financial Investments (UKFI), the organisation that runs the government's bank shareholdings, according to media reports.

Chancellor Alistair Darling is set to take a decision this week over who will fill the top London banking job, with Mr Budenberg believed to be the favourite to take on the role.

He will replace John Kingman, who is leaving UKFI to reportedly join private sector advisory firm NM Rothschild.

Mr Kingman announced he was stepping down from his current post in July this year and said at the time: "I have tremendously enjoyed leading UKFI over the last year and think the organisation is now very well placed to deliver its mission of protecting and creating value for the taxpayer."

If Mr Budenberg takes on the role, one of his first tasks will be attempting the privatisation of Northern Rock under the terms of the deal that has been agreed with the European Commission.

The government is expected to face criticism over the appointment of an investment banker to the UKFI job, as one of the roles of the body is to challenge banks over remuneration levels for their staff.

Updated: 29 October 2009.
Categories: banking-and-financial-services, finance-and-accounting, jobs.

A leading Conservative Party thinker has said that performance-related pay should apply not only to those in London banking jobs but also to people working in the public sector.

Writing in the Guardian, Harry Phibbs, a Conservative councillor and a blogger for the party's home and social affairs unit, said that bonuses should not be banned for those in London banking jobs if they work for companies that have not been supported by taxpayer investment.

Mr Phibbs added that performance-related pay should not just be encouraged for bankers but also for workers in the public sector.

"The rule should apply to the public sector as well - from top to bottom - whether for a caretaker cleaning a tower block or a permanent secretary in Whitehall," he said.

He said that he believed it would be fairer than simply imposing a crude pay freeze across the public sector.

Earlier this year, David Cameron said that public sector spending had to be made more efficient.

Updated: 29 October 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

People looking for permanent and temporary jobs in London could be set to benefit from rising optimism among business leaders.

Research by the London Chamber of Commerce and Industry found that more than half of company bosses in the British capital are feeling more optimistic than they were three months ago.

Speaking to BBC News, chief executive Colin Stainbridge said this has been partly fuelled by growing confidence in the wider economy.

However, he added that the overall level of optimism is still relatively low in comparison with surveys in previous years.

"Things are still nowhere near back to where they were before the recession took hold," Mr Stainbridge commented.

The findings coincide with news that the economy continued to contract between July and September, shrinking by 0.4 per cent.

Chancellor Alistair Darling said this shows the economy is "not out of the woods yet", although he added that he believes confidence is on the rise.

Updated: 23 October 2009.
Categories: human-resources, jobs, market-and-industry-news.

The Royal Bank of Scotland (RBS) is going to recruit more women into senior London banking jobs, according to a human resources director at the company.

Less than 15 per cent of RBS executives are women despite them accounting for 57 per cent of the staff in the company.

John Last, RBS HR director of group policy and employment, told Personnel Today that women were already being recruited in larger numbers to junior management positions.

The bank was now looking to ensure it also happened for its senior London banking jobs.

"In terms of executive roles we will have at least one female on the shortlist for those jobs," he said.

"That will get us into the marketplace to see what talent is out there."

Last week, Nichola Pease, deputy chairman of JO Hambro Capital Management, said that too much equality legislation was actually making it harder for women to get banking jobs in the City of London.

Updated: 23 October 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

Barclays president Bob Diamond has opted to stay in his London banking job after turning down an opportunity to possibly become Bank of America chief executive officer.

Media reports have said that Mr Diamond was approached by the US bank's recruitment committee and offered the chance to attend an interview for the top job, an offer he apparently declined.

Mr Diamond has had a successful year in his London banking job with Barclays and it is reported that he is set to receive a large bonus for his part in the bank's acquisition of Lehman Brothers' US operations.

Current Bank of America chairman Kenneth Lewis is due to step down at the end of the year with controversy still surrounding the bank's purchase of Merrill Lynch in September 2008.

Earlier this month, the US bank turned over documents relating to the purchase to the New York attorney general Andrew Cuomo, who is investigating the deal.

Bank of America has had two government bailouts and recently reported a third-quarter loss of more than $1 billion (£609 million).

Updated: 21 October 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

The bank will concentrate the majority of its new appointments in its consumer banking business, with 3,000 permanent jobs to be created in France.

It will also be hiring investment bankers despite recently cutting around 800 from the company, reports Bloomberg.

The figure matches the amount of new banking jobs filled by the company this year, although the figure represents a fall of more than 40 per cent on the 26,000 appointments it made in 2008.

BNP Paribas currently employs more than 200,000 people across the world, with more than 16,000 of them working for its corporate and investment banking divisions.

Earlier this week, the company was fined more than £600,000 by Japanese financial authorities for its involvement in a secret derivatives agreement with the now-defunct property developer Urban Corp that took place last year.

Updated: 21 October 2009.
Categories: banking-and-financial-services, international, jobs, market-and-industry-news.

Mr Agius said he was worried that the UK would regulate its banks more tightly than the rest of the world, making it uncompetitive in the global financial market.

He added that he was concerned that proprietary trading by people in London banking jobs had been demonised in the media, reports the Financial Times.

"If excessive risk is taken out of the system, that's good," he told the paper.

"But we have to be very careful where we draw the line."

Mr Agius also said that he was worried that the G20's proposed regulations on banking bonuses could be interpreted by different global regulators in different ways.

According to media reports, Barclays is on course to make a profit of more than £10 billion by the end of this year.

Updated: 21 October 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

Staff working in London banking jobs for the Royal Bank of Scotland (RBS) are set for average bonus awards of £240,000 for 2009, according to banking analysts.

Media reports have said that RBS is set to pay its investment bankers in London up to £4 billion in pay and bonuses this year.

But the bank, which is 70 per cent owned by the government, is on collision course with ministers over the alleged plans.

City minister Lord Myners said: "We are simply not going to tolerate high levels of remuneration which are not justified and earned."

RBS has denied it plans to pay its employees in London banking jobs large bonuses, claiming the reports that some senior executives could be in line for £5 million payouts were totally without foundation.

Last week, 70 bankers walked out of the RBS's Singaporean private banking arm, Coutts, in a dispute believed to be over the amount of bonus pay they would be receiving.

Updated: 19 October 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

People working in London banking jobs for Goldman Sachs are set for huge bonuses at the end of the year after the investment bank announced third quarter profits of more than £1.8 billion.

Earlier this week, Goldman Sachs was one of nine global banking institutions that agreed to curb bonus payouts to its staff working in London banking jobs.

But that will only take effect from next year, meaning those currently working in London banking jobs at the company are in line for one final bonus bonanza.

Goldman Sachs has already set aside around £10 billion for staff bonuses for 2009, a figure that is expected to reach £12 billion by the end of the year.

The company employs around 30,000 people, meaning that the average bonus payout for staff currently stands in the region of £430,000.

But much of the bonus money is likely to go to the bank's top executives.

Last year, its top 200 employees took home an average bonus payout of more than £3 million.

Updated: 19 October 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

The number of London banking jobs is set to increase next year, according to a report from an economic thinktank.

The Centre for Economics and Business Research (CEBR) said its findings showed there will be 9,000 new jobs in the financial sector in 2010, followed by the creation of an additional 11,000 jobs in the following two years.

CEBR also revised downwards its estimate of how many banking jobs would be lost over the course of 2009.

Its new figure is 18,000 jobs, down 11,000 on its prediction of 29,000 in April.

But CEBR warned those seeking London banking jobs that it could still take up to a decade before financial sector employment returns to 2007 levels.

Benjamin Williamson, CEBR economist, said: "Re-regulation of London's wholesale financial services sector will act to limit its economic activity over the medium term."

Earlier this week, the Financial Services Authority wrote to chief executive officers at more than 5,000 companies to say it will be vetting who they appoint to their top London banking jobs.

Updated: 19 October 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

Many buyers are considering switching their postal service from Royal Mail, according to a survey.

A Supply Management survey of workers in procurement jobs found almost 40 per cent of them are considering ditching Royal Mail's services.

The Communication Workers Union, which represents Royal Mail staff, has announced national post strikes are to begin from Thursday October 22nd 2009.

More than three-quarters of postal workers backed the decision to strike in the dispute which centres around pensions payments and increased workloads.

Bill Fyfe, procurement manager at the National Trust for Scotland, told Supply Management that his organisation had saved around £70,000 per year thanks to a recent switch of postal supplier.

Many of the 63 per cent of buyers who said they were not interested in switching postal services also stated they did not use such services very often.

Instead they have switched to delivering items traditionally delivered by post, such as pay slips and invoices, via email.

Updated: 16 October 2009.
Categories: jobs, market-and-industry-news, procurement.

Ms Pease told the Commons Treasury Select Committee that legislation on issues like maternity leave was actually making it harder for women to get finance jobs in the City of London.

This was because it made firms believe that hiring women would be a nightmare, she said.

"We've got to be realistic and make sure the protection, which has very good motivation, doesn't end up backfiring both at a female level and at a UK competitiveness level," she told the committee.

Ms Pease, who has three children, also stated she believed sex discrimination claims that ran into millions of pounds were ridiculous.

In May 2009, Labour deputy leader Harriet Harman said she wanted to introduce legislation to boost the number of women in top London finance jobs at the UK's partly nationalised banks.

Updated: 16 October 2009.
Categories: finance-and-accounting, jobs, market-and-industry-news.

Accountancy firm PricewaterhouseCoopers (PwC) has advised young people looking for accounting jobs that they should focus on gaining vital employability skills.

Sonja Stockton, head of recruitment at PwC, said those looking for accounting jobs in London and across the UK should spend time gaining internships and attending summer academies if they want to boost their employment prospects.

"Academic capability is a vital foot in the door, but employability skills push it open to much wider opportunities," she said.

She added that if businesses act sensibly and recruit well, the UK could have a new generation of workers who had already learned hard business lessons.

Employment vacancy freezes have taken place across many financial and accounting sectors, but PwC is currently beginning recruitment of more than 1,000 people for accounting jobs in London and the rest of the country.

PwC has just been appointed to investigate £100 million worth of alleged unauthorised transactions made by Tawhid Abdulla, the former chief executive officer of the Dubai jewellery company Damas.

Updated: 16 October 2009.
Categories: finance-and-accounting, jobs, market-and-industry-news.

The Financial Services Authority (FSA) has warned the institutions under its remit that it plans to crackdown on who they recruit for top London banking jobs.

It has sent letters to chief executive officers at more than 5,000 firms to say it will undertake close vetting of candidates and even interview those applying for London banking jobs in positions of significant influence.

Graeme Ashley-Fenn, FSA director of permissions, decisions and reporting, said: "The onus is on firms to ensure candidates applying for influential positions are fit and proper to perform the role."

The letter urged financial organisations to provide the FSA with sufficient information on each candidate, along with the reasons they believe the candidate is a fit and proper person for the job.

In the past year, 18 people applying for London banking jobs have been rejected by the FSA.

Last week, the FSA fined investment bank and stockbroker Seymour Pierce more than £150,000 for failing to prevent employee fraud.

Updated: 16 October 2009.
Categories: banking-and-financial-services, finance-and-accounting, jobs, market-and-industry-news.

London is the top destination in the world for banking and financial services, according to a recent study.

The World Economic Forum's Financial Development Report rated the UK's financial system higher than Australia's and that of the US, which came in second and third.

Lord Davies of Abersoch, minister for trade, investment and small business, commented: "Our status as the leading financial centre of the world is based on our openness, fairness and wealth of international talent."

He added that he believes the country's "entrepreneurial and innovative spirit" will put the country in a strong position to capitalise when the economic situation improves.

The UK recently rose in the Doing Business Report rankings from the World Bank and was named the fifth best country in the world.

Earlier this month, banking and financial services in the UK were given a further boost after the annual European Cities Monitor's survey, conducted by Cushman & Wakefield, ranked London as the best for business for the 20th year in a row.

Updated: 14 October 2009.
Categories: banking-and-financial-services, finance-and-accounting, jobs, market-and-industry-news.

Treasury minister Lord Myners is holding a meeting with overseas financial institutions operating in the capital in an effort to save London banking jobs.

He is expected to put pressure on them to reduce bonuses in order to create a level playing field with regards to remuneration after UK banks agreed to take steps to limit cash payouts, reports the Daily Mail.

It is thought that about ten major banks will be at the meeting, including senior representatives from JP Morgan, Deutsche Bank, Goldman Sachs, Citigroup and Morgan Stanley.

The big five UK banks, HSBC, Royal Bank of Scotland (RBS), Lloyds Banking Group, Barclays and Standard Chartered have already agreed to limit the bonuses paid out to those in London banking jobs.

However, this is not the case at foreign banks operating in London - Goldman Sachs for example, is expected to award its staff around the world a total of more than £14 billion in pay and benefits this year.

This comes after bonus caps were blamed for 70 people walking out of banking jobs at the international arm of RBS in Singapore, the Scotsman reported.

Updated: 14 October 2009.
Categories: banking-and-financial-services, finance-and-accounting, jobs, market-and-industry-news.

People looking for permanent jobs in London have been advised to tailor their CV to the role they are applying for.

According to London South Bank University, jobseekers need to make a "real effort" to alter aspects of their CV
                               each time they send it out.

Margaret Holbrough, careers advisor at the institution, said this would make it obvious to recruiters that they have written it specifically for that company or industry.

"They should try and identify and emphasise their unique selling point with reference to that industry," she commented.

Ms Holbrough urged applicants to ensure their CV fully reflects the requirements of the organisation as described in the job advert or company website.

She added that people seeking permanent jobs could also research whether the firm they are applying to has specific values or policies, such as a firm stance on the environment.

Applicants could then mention on their CV or covering letter that they want to work for an organisation which shares their own values.

This comes after the Chartered Institute of Personnel and Development forecast a gradual increase in net job creation in the UK.

Updated: 08 October 2009.
Categories: human-resources, jobs, market-and-industry-news.

Banking and financial services firms have begun to show the first signs of recovery in the past three months, according to a survey from the CBI.

For the first time in two years business volumes grew across the sector and firms reported more optimism with the overall business situation in the CBI/ PricewaterhouseCoopers (PwC) poll.

Ian McCafferty, CBI chief economic adviser, said that a fall in running costs had helped lift profitability.

But companies remained worried about lack of demand and levels of business continue to remain well below normal.

Mr McCafferty warned: "Future demand is still a major concern for financial services firms, however, and further pain will continue to be felt in job losses and lower investment."

The overall picture saw finance houses and general insurance firms see unexpected levels of growth while banking business volumes stabilised, but insurance brokers and building societies saw business continue to fall.

This confounded hopes expressed in June's CBI/PwC survey, in which building societies were optimistic this quarter would see stability return to their market.

Updated: 07 October 2009.
Categories: banking-and-financial-services, finance-and-accounting, market-and-industry-news.

Permanent jobs in London are in high demand among Britons, as a large proportion want to live and work in the capital.

A poll by mobile phone operator Orange found that if people could relocate to a place of their choosing within the UK, many would set up home in London.

If all the respondents who chose London did actually move to the city, its population would go up by 40 per cent, Orange stated.

This level of migration would mean that places such as Leeds, Manchester and Birmingham would see their populations drop by 80 per cent.

Meanwhile, Lloyds TSB Autolease has revealed that one in seven City bosses are thinking of getting rid of employee benefits such as gym membership and private healthcare.

Although the Orange poll found that 42 per cent would be happy to give up such perks in return for the opportunity to work flexibly, spokeswoman Claudia Rose has called on employers not to go too far.

She said a properly rewarded workforce is "essential" to any company that wants to emerge from the downturn in a strong position.

Updated: 25 September 2009.
Categories: jobs, market-and-industry-news, permanent-placement.

People in London banking jobs could find they are dealing with more finance-savvy customers as a result of the recession.

According to a study by National Savings and Investments (NS&I), nearly two-thirds of Britons have been more actively looking after their bank accounts since the onset of the credit crunch.

Indeed, almost half of this group said they know exactly how much money is contained in their various accounts.

The study found that this trend was highly apparent among older people, with 60 per cent of over-65s knowing the exact status of both their current and savings accounts.

Dax Harkins, senior savings strategist at NS&I, commented: "It's really important to keep track of your money and to make sure that it is invested in a savings account which suits your individual needs."

He added that consumers only need to set aside a few minutes each week to review their money situation and get the most from their financial providers.

This comes after a poll by uSwitch found that more than one in ten people believe the recession will be over by the end of 2009.

Updated: 25 September 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

 People looking for permanent jobs in sectors such as human resources have been advised that a gradual increase in net job creation is likely to occur.

According to the Chartered Institute of Personnel and Development (CIPD), the British economy is beginning to show signs of picking up following its recent slump.

The organisation is therefore forecasting a "jobs-light recovery", which means there will be a "slow grind" back towards the pre-recession rate of unemployment over the next six years.

John Philpott, chief economist at CIPD, has therefore advised the government to "maintain expansionary fiscal and monetary policies for as long as necessary".

This, he stated, is of "vital importance" to the UK economy and the permanent jobs market.

The forecast comes shortly after KPMG and the Recruitment and Employment Confederation (REC) reported a marginal increase in permanent and temporary job appointments in Britain during August.

Kevin Green, chief executive of the REC, hailed this as a sign that the UK jobs market is improving.

"When speaking to clients they are more receptive to our calls and they are all feeling slightly more positive, a lot of clients are commenting once we get in to the New Year this will move even quicker." Comments Susan Guthrie, Human Resources General Manager at Poolia

Updated: 25 September 2009.
Categories: human-resources, jobs, market-and-industry-news, permanent-placement.

 People looking for permanent jobs in London have been boosted by suggestions that the recession may be over.

According to the CBI, gross domestic product (GDP) in Britain is likely to go up by 0.3 per cent during the third quarter of 2009.

Estimates suggest that this will be followed by a 0.4 per cent increase in GDP during the following three-month period.

Richard Lambert, director general of the CBI, attributed the positive short-term outlook to a number of factors, such as the government's quantitative easing programme and improving conditions in other countries.

However, he warned that rapid growth is not likely to resume for some time and that the next 18 months would continue to feel "quite tough".

Speaking to BBC News, Mr Lambert said: "Household consumer spending will remain tight, businesses will be hunkering down and the government will be pulling its horns in."

Bank of England governor Mervyn King has already expressed cautious optimism about the state of the economy, telling the Treasury Select Committee last week that there are signs that growth resumed in the third quarter of 2009.

Updated: 24 September 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.

People looking for London accounting jobs have been boosted by news of rising business confidence in the capital.

According to the Institute of Chartered Accountants in England and Wales (ICAEW), optimism rose by record levels during the most recent quarter of the year.

However, the organisation noted that business confidence in London was slightly lower than the national average.

Speaking to the Evening Standard, Ian Strange of the ICAEW said this could be partly because of the city's status as a global financial centre.

"London has naturally been close to the heart of the world financial crisis over the past year," he commented.

Mr Strange added that this has led to businesses in the city being more cautious over the prospect over an economic recovery than firms in other parts of the UK.

The comments follow a recent study by the ICAEW which found that optimism in the economy is particularly strong in the banking and financial services sector.

Chief executive Michael Izza said rising levels of business confidence suggest the recession could be over.

Updated: 24 September 2009.
Categories: jobs, london, market-and-industry-news.

Company bosses in the UK are becoming increasingly hopeful about their future prospects, a new poll has found.

Britons looking for London finance jobs have been boosted by a surge in optimism among business leaders in the UK.A study by Clydesdale Bank showed that company bosses are becoming increasingly confident about their future prospects.

Mike Williams, an executive at the financial institution, described this as a "promising" development that could herald growth in the economy, the Independent reports. "It has clearly been a challenging time for businesses," he commented. "But these figures show there are signs of stability creeping into the market."

However, Mr Williams added that it is important for companies to retain a grounded and cautious perspective amid changing market conditions. According to the survey, nine in ten company bosses are now confident that their businesses will withstand the current slump in the economy.

Meanwhile, two-thirds of respondents said they have not yet experienced a reduction in business since the recession began.

This backs up the findings of a recent study by Lloyds TSB, which found that business confidence in Britain is now at its highest level in 15 months.

Updated: 17 September 2009.
Categories: finance-and-accounting, jobs, market-and-industry-news.