No Slow-down in Recruitment for FinTech Companies

The Bank of England (BoE) announced this week that there is “no clear evidence” (yet) of a sharp economic slowdown after last month's vote to leave the European Union. The BoE reported that whilst business uncertainty had risen markedly most firms did not plan to cut hiring or investment.

Sterling rose against the US dollar following the report which was more positive than other surveys indicating falls in business and consumer confidence. The British central bank has also surprised markets by holding interest rates.

The uncertainty in the run up to the referendum did result in a slower market for finance recruitment in H1 2016. Now that a decision has been made and a new cabinet is in place, companies seem to be moving forward with recruitment strategies and Marks Sattin has seen uplift in finance jobs registered with many hiring managers quietly positive about future growth. 

Within financial services, FinTech companies appear to be largely unhindered by the EU referendum and continue to experience consistently levels of high growth. It’s an exciting time for FinTech as it is acquiring a larger stake of financial services market share, a recent study by PwC indicates that financial services organisations fear losing up to 23% of their business to FinTech in the next five years. 

Mark Sattin works with a range FinTech businesses from established listed companies to new start-ups and we have seen an increase in activity across the board from these companies. FinTech is becoming a highly attractive area for finance professionals to move into as the roles tend to be more varied than other sectors and have a significant commercial aspect. The sector provides the opportunity to work closely with high level internal stakeholders with a clear impact on business performance. The drive for high levels of growth within FinTech provides scope for exciting project work which could include fundraising, system implementation, process improvement and M&A work.