With financial services companies under growing pressure to remain competitive and cost efficient, many are now moving their offshore operations and the associated jobs back to the UK according to specialist financial service recruiter Robert Half.
A survey by Robert Half reveals that rising costs coupled with unsatisfactory levels of service are the prime drivers behind the decision.
Despite UK’s imminent departure from the EU, London looks set to remain the World’s financial capital.
“In the face of change, financial services companies in London are increasingly under pressure to remain competitive by maximising performance and decreasing costs,” said Matt Weston, director at Robert Half UK.
The survey found that 59% of the UK’s financial services executives had increased their levels of on-shoring activity, moving operation back to UK, while just 4% decreased levels of onshore activities.
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