London not losing its allure

Canary Wharf3Fears that financial services professionals would leave London en masse for other international finance centres appear to have been overblown, according to a survey published today.

Eighty per cent of the 560 respondents to the Moving Abroad Survey have either not been offered or have declined the opportunity to work abroad. Of the 28% who were not willing or able to relocate, almost half cited family or partner to be the main reason for this.

However, the 43% who had not had the opportunity to move were open to the idea, with New York, Hong Kong and Sydney favoured.

Morgan McKinley, the professional recruitment consultancy, conducted the survey throughout June as part of its London Employment Monitor.

Their chief operations officer, Andrew Evans, said: “The survey gave a clear indication that the majority of financial services professionals in London are not currently planning to relocate.”

He added: “It would also seem that changes to taxation and remuneration structures in the UK have not driven away as many professionals as feared.”

©2011 funds europe