Recruiters not panicking yet

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The future still looks rosy(ish) for financial services recruitment firms.

Michael Page reported a 53% increase in pre-tax profits for the first half and Morgan McKinley's last monthly survey said financial services jobs were up 7% in July, so recruiters don't need to panic - yet.

The head of one recruitment firm tells us any drop off in front-office roles will be mitigated by new jobs in areas such as compliance, which are being boosted by MiFID. And Matthew Earl, a recruitment industry analyst at Investec, says he remains "optimistic" about financial services recruitment: "This will prove more of a short sharp shock than anything and once the unwinding occurs things will carry on as they did in the first half of the year."