Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

Financial Services Ops

Darren Burns, Operations Director, Morgan McKinley 

Impact of Brexit on Financial Services Operations in London 

We are yet to see any form of impact on headcount in Financial Service Operations, either positive or negative.

This said, we are hearing that contractors may be needed to help with increased workload as work / trades / deals are processed through new entities that have been set up within the EU. 

Top 5 most frequent roles


  • Derivatives Trade Support
  • Client Reporting
  • Portfolio Analyst / Fund Administration
  • Loan Servicing / administration
  • Product Development

Which sectors have been the most active in terms of hiring? 

Both Buy side and Sell side have been equally active in terms of hiring. 

Q1: Demand for languages a worry with Brexit restricting pool of candidates in Financial Services Operations 

The year began slowly after what proved to be a busy Q4 to end 2017; a lot of recruitment in January was churn from last year. February continued to be lethargic in terms of hiring, with candidates and clients lacking urgency with bonuses due in March/April.

As we moved away from bonus period, things became busier, with hiring for investment management being consistent. These were primarily replacement hires following bonuses.


  • Performance analysis: £45,000 – £70,000 
  • Client services: £50,000 – £80,000 
  • Product development and product management: £60,000 – £90,000


Following expansion into Europe, language requirements for client services professionals increased; German, Nordics, Dutch and Italian particularly. VBA and SQL were popular for analytical roles, and the CFA and CIPM remained beneficial. The IMC and CFA continued to be highly sought after by clients looking for product development/management candidates. 


The first quarter of the year resulted in people waiting to collect their bonuses before leaving or looking to leave. It is a natural time for professionals to consider their current situation after annual salary reviews in February/March, and look for new positions if they are unhappy.

The start of each year is tense for hiring managers as they wait for staff to decide whether they want to stay or depart. On the flip side – given it’s the end of the financial year – it’s an exciting time for hiring managers as it’s when budgets are released and headcounts are approved for hiring.

Q2: Brexit continues to be top of the agenda for Financial Services Operations recruitment 

The number of permanent jobs increased throughout Q2 following on from a strong Q1. Both the asset management and banking industries were busy with hiring, the majority of positions being filled at mid-level. On a more negative note, frequency of jobs on the contract market was subdued, continuing on from a slow previous quarter.

Brexit continued to be top of the agenda, with talk of jobs moving to mainland Europe, but this time outlining specific roles. Conversely, Brexit actually created more jobs in the short term; staff members were deployed onto projects and therefore contractors were drafted in to fill their positions.


We noticed a number of banks increased their front office support, with more Sales Assistant and Trade Assistant contract roles which is usually more of a permanent area. These roles are exciting and enticing for candidates as they offer front office exposure and a move away from the middle office.


  • Increased Excel skills needed – VBA etc. This is due to increasing levels of reporting being involved in BAU roles.
  • Financial product and process SME knowledge – always important for Trade Support roles.


As policies slowly become clearer, and the leave date gradually draws closer, Brexit planning is reaching Business as Usual level. We anticipate that this will result in a high number of short term roles becoming available whilst changes are put in place. There is likely to also be increased headcount in operations due to the setting up of new entities for Brexit.