City update
As is historically the case in August, recruitment activity was relatively quiet across the FS sector. However, as we have moved through September and into the fourth quarter, we have seen a marked increase in the need for qualified derivatives lawyers and non-qualified ISDA Master Agreement Negotiators in both a Temporary and Permanent capacity. This in turn has led to a decrease in the pool of available candidates which if it continues will start to impact on salaries.
Elsewhere, Banking/Finance and corporate M&A is still relatively static with a lack of appetite to hire such lawyers. Although some of the larger retail banks in London have shown the first signs of interest in these specialisms, together with litigation.
We envisage a steadily increasing flow of requirements through the fourth quarter which, while not close to the levels of 2006/2007, will see opportunity for lawyers with the relevant skill sets.
For more information, email paulcowling@michaelpage.com or call Paul on 0207 269 2467.
