It’s unlikely to overtake Sweden as the hub for financial services in the Nordics anytime soon, but Finland is seeing a rapid increase in investment banking hiring and recruitment activity.
Swedbank in its latest results last month revealed it had launched new fixed income and currency operations in the country during the third quarter while Nordea in its results said its “Growth Plan Finland” had led to the recruitment of 100 advisers, albeit predominantly on the retail side.
“Financial services jobs are buoyant in Finland right now. A lot of the Nordic banks are recruiting,” agrees Erkki Tuominen, managing partner at Finnish recruitment firm CV Group.
Equity research is one area looking strong right now, he adds.
“A couple of years ago, for example, one of the largest Nordic banks decided to refocus on its own internal equity analysis towards institutional investors, having outsourced all research previously. So that has led to demand for equity analysts, both in Finland and the Nordics more generally,” Tuominen explains.
Expatriates with international experience, especially in London, who want to come home are being increasingly welcomed with open arms, adds Tuominen.
“If you have a few years experience of working in London you will always be in demand but even more so now.
“It used to be the Nordic banks could only dream of getting people from London because of the differentials in earnings but these days the bonuses are not so dissimilar and are starting to resemble those in London.”