Shanghai / Expected job growth making it a the new global financial centre

City workers’ expectations of job growth in London are weakening as it appears Shanghai is becoming the new global financial centre. According to research by Astbury Marsden, 73 per cent of bankers are expecting most new banking jobs to be created in South East Asia with Shanghai seeing the biggest jump in opportunities. Only 11 per cent of bankers and hedge fund workers think London will create the most new banking jobs over the next 12 months – down from 22 per cent a year ago.

The importance of business in mainland China was highlighted by the leap in confidence in Shanghai with 26 per cent expecting Shanghai to provide the most new jobs versus just 19 per cent last year.

“The centre of gravity continues to move towards China whilst confidence in London continues to be chipped away,” said Mark Cameron, Chief Operating Officer at Astbury Marsden. “When we conducted this same research last year we thought that sentiment towards London was at a low – unfortunately we were wrong.

Chosen excerpts by Job Market Monitor

via Astbury Marsden research confirms South East Asia as hot spot for banking jobs. | Shanghai on the up | The Global Recruiter Magazine.