London is seeing a marked resurgence of fintech growth, according to data published this week. Figures from recruiter Morgan McKinley show a 61% year on year rise in fintech vacancies in the City between January and April.
Vijay Ray, associate director at leading audit, tax and consulting firm RSM UK, said, “This data is further evidence that London is undergoing a resurgence as the fintech capital of Europe.
RSM’s own data found UK tech incorporations hit a record high recently, rising by 22% nationally and 26% in London last year.
London had been losing ground as a financial centre, with the pandemic and Brexit resulting in movement out of the capital. UK economic instability led the financial services sector to move to other European financial centres such as Frankfurt, Paris and Geneva.
“As the UK is now attracting greater investment in fintech startups, London is once again cementing itself as Europe’s leading fintech hub, and this huge rise in vacancies shows there’s plenty of opportunity for those with the right skillset. Until recently there had been growing concerns around a UK ‘brain drain’ of fintech skills, so it’s great to see this uptick of fintech opportunities attracting skilled people back to the capital.”
