Robert Walters’ fees soar with banks ‘bored’ of Brexit

Britain’s biggest banks have become “bored with Brexit — it’s yesterday’s conversation”, City recruiter Robert Walters said.

The headhunter said banks are now on a hiring blitz and making a commitment to the UK, which helped net fees over here jump 27% to £23.9 million in the first three months of this year, with a “notable upturn” in financial services.

Robert Walters’ eponymous chief executive explained: “The banks are now looking positively towards the UK — there are signs of commitment. More specialised areas such as compliance, cyber-security, change management, and investment management in particular are growing.”

Walters noted hiring in manufacturing was also up about 20% in the UK.

“The benign attitude in the UK seems to be continuing. People got bored with Brexit; it’s business as usual. When I have lunches with bankers about the state of the world, Brexit is yesterday’s conversation. At the moment they’re just getting on with business.”

Overall, Walters — whose overseas businesses were boosted by the weak pound — enjoyed a record quarter with net fees income up 20% to £78 million.