The number of new roles in the sector grew 52 per cent year-on-year in May, according to fresh data from Astbury Marsden.

There were 52 per cent more jobs available in London's financial services sector this May compared to a year ago, according to recruitment firm Astbury Marsden.

As trading picked up for banks’ fixed income, commodities and currencies (FICC) desks, the number of new roles created more than doubled from 2,690 in May 2014 to 4,100 last month, according to the firm. Banks have suffered job cuts across such teams over the last couple of years as profitability was hit by tougher capital adequacy requirements and lower bond market volatility.

May however became the fifth consecutive month of hiring activity growth, thanks to a return to more volatile conditions across bond and currency markets, which fuelled a more active trading strategy.

“Revenues are growing in certain areas of FICC, and the increased positivity on the trading floor is creating more opportunities for specialists in these areas than we have seen for some time,” said Astbury Marsden's managing director, Adam Jackson.

The merger and acquisition merry-go-round is also expected to continue on its upward trend, hence spurring on job creation in the capital. The value of global M&A activity hit an eight-year high of $1.3 trillion during the first four months of the year as corporates sought to take advantage of the low interest rate environment.

In the UK, acquisitions that were put on hold amid pre-election uncertainties are now expected to go ahead following the result of a Conservative party win, Astbury Marsden highlighted. IPO activity is set to bounce back over the second half of 2015, with recent London IPO plans including the cybersecurity company Sophos.

Furthermore, the current regulatory environment is likely to boost job opportunities in compliance and risk staff, as well as front office roles.

“We are seeing new compliance hiring to support the new front office roles that are being created, and risk professionals are also in strong demand,” said Jackson. 

“On the technology side, demand for 'big data' experts is strong. Strengthening cybersecurity teams remains an important focus, especially as more and more data exchange with customers is conducted via the cloud.”