The more telling figures are the steep decline compared to Q1 2023, showing the City continues to rein in hiring, driven by global unease and cost pressures.
Banks are settling into defensive mode due to economic unease and geopolitical tensions, showing strength in managing talent acquisition ebb and flow.
Short-term volatility creates opportunities, with expectations of improvement in hiring for M&A and underwriting, possibly in Q3 or Q4.
Limited growth and cost pressures lead to lower volumes of hiring across the front office and infrastructure, signaling a cautious approach by banks.
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