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Financial services job boost for North West

Job vacancies in financial services are increasing faster in the north of England than in London, while they have "stalled" in Scotland, according to a new study.

Liverpool, York, Manchester and Leeds have all seen big rises, while vacancies in the capital have fallen by 4% over the past two years, said recruitment firm BrightPool.

Recruitment in financial services has stalled in Scotland, with jobs falling in Edinburgh, said the report.

Moving more back and middle-office jobs out of London to the regions is a key part of efforts to improve cost-to-income ratios.

There are big savings to be made in both property and staff costs. Financial services employment growth in the regions is rapidly outpacing that of London - that is a clear reversal of the trend before the credit crunch, when higher returns on capital meant staff costs were not such a concern.

– Angela Hickmore, managing director at BrightPool