City job vacancies double in month

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View of City of LondonThe number of job vacancies in the City of London more than doubled last month compared to December, but was still well down on a year ago, according to new research.

Recruitment firm Astbury Marsden said the recovery in the jobs market was driven by more active hiring among small and medium-sized banks and fund managers.

There were around 4,000 City job vacancies in January, up from 1,490 in December 2011, but still 25% less than a year ago, it was found.

Mark Cameron, chief operating officer at Astbury Marsden, said: "Some of the more nimble and ambitious City firms see the current market as a good opportunity to build their businesses and expand operations.

"With recent widespread redundancy programmes and many of the biggest banks withdrawing their horns, many firms have realised that there is now a wide pool of talented bankers that they may not have been able to recruit a year ago.

"Those employees that have stayed put for some time to see out the downturn will still be harbouring ambitions to move on.

"Some City firms may also take the view that - as the downturn may have forced competing organisations to shrink and close down areas of their business - now is the time to capitalise and take on additional staff."