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Economy

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London’s finance sector hiring

– Job vacancies at London financial-services companies jumped 76 percent in January as firms sought to hire compliance staff to police money-laundering and financial crimes, according to a survey.

Vacancies in London’s main financial district, known as the City, and elsewhere in the British capital climbed to 2,331 in January from 1,323 a month earlier, recruitment consultant Morgan McKinley said in a statement last week.

“Adhering to regulatory change continues to be where the hiring market is busiest,” said Hakan Enver, operations director at Morgan McKinley Financial Services.

“Compliance hiring is focused on anti-money laundering and prevention of financial crime following a number of high-profile cases linked to global socio-economic problems.”

Securities firms in Britain, the United States and Europe are under pressure to improve their internal compliance structures after a series of regulatory scandals.

HSBC Holdings Plc, Europe’s largest lender by market value, agreed in December to pay $1.9 billion to close a global money-laundering probe by regulators. Standard Chartered also agreed in December to pay $327 million of fines after regulators alleged it violated U.S. sanctions with Iran.

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