In this issue

New year brings new opportunities

2021 has started and everyone is hoping for a different year to the one previous.

Not to mention the global COVID-19 pandemic which affected every industry under the sun, there was also Brexit to deal with in the UK. A lot of change in a short amount of time and a lot to adapt to.

Banks in the US are starting to release their results with a mixed bag. Some have recovered well and are starting the plan their 2021 while others are still in the middle of shockwaves.

Deals have started to come in and with a new wealthtech boom certain to happen this year, two things are set to happen. Digitalisation and tech will have lot of attention this year and consolidation will creep into the sector.

Banks are looking high and low for talent. In the week of 10 January 2021 to 16 January 2021, 24,200 jobs were posted according to the GlobalData jobs analytics tool. This is a 28.8% increase on the previous week’s total of 18,792.

The year has started as expected with a large number of roles to be filled by multiple players. This is usually the case in January, but 2021 has different circumstances to previous years. After 2020 was dominated by the COVID-19 pandemic, there are a lot of new roles created to adapt to the “new normal” of working from home and remote communication.

In addition, as firms cut costs during the pandemic, jobs were lost. Many markets are regaining stability and the jobs are back. The number of jobs posted should increase over the coming weeks as financial institutions look to hit the ground rolling in 2021 and recover the money and opportunities lost in 2020.

It is set to be an exciting year and Private Banker International will be here to cover it all.

Patrick Brusnahan, editor