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Toscafund, the prestigious UK hedge fund, believes that as many as a hundred thousand finance sector positions – including many new graduate jobs in London – will be created in the City in the next decade.
These upbeat forecasts come as a refreshing change after some negative predictions about financial jobs in the City recently. Just last week Boris Johnson warned that a 50 percent tax on high income earners could lead to as many as 9,000 staff upping sticks and moving away from the City.
Toscafund, however, think that such worries are overdone and point to the upsurge in growth of the Japanese banking industry in the City in the last two decades as an indication of what the future might bring for London.
As the world economy rebounds, Tosca predicts that the economic upturn in reinvigorated markets such as Brazil, Russia, India and China will drive the financial industry in London forward, creating tens of thousands of new graduate jobs in London as a natural consequence.
Speaking to the Financial Times, Savvas Savouri, the top economist at the hedge fund, said that, "The idea that London is going to be full of tumbleweed in 10 years is not credible. There are too many aspirational economies that don't have infrastructures of their own. We have an affinity with India, with the Gulf, even with China – via Hong Kong. These markets will want a western hub."
We at E4S also feel optimistic about the future of London graduate jobs in the City. And, we have a good feeling about most other job sectors all across the UK as the economy picks up. Jump on our feel good factor now and start looking for your ideal graduate job in London today.
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