UK: Most leave banking for good

Three out of four bank employees who left their jobs since the start of 2012 haven’t returned to similar jobs in the industry. Of the 2,872 people registered with the UK's Financial Services Authority as a so-called approved person who left a major bank from January 2012 to February 2013, only 807, or 28 per cent, have found new roles and re-joined the register, according to a report by eFinancial Careers, a recruitment website.

Some may have retired or left the industry, while others may have found jobs that don’t require FSA approval. ))((

The figures covered nine firms: BNP Paribas, Credit Suisse Group, Goldman Sachs, JP Morgan Chase, Merrill Lynch International, Morgan Stanley, Nomura Holdings, Societe Generale and UBS.

Former JP Morgan bankers were most likely to find similar work in the industry, with 36 per cent of those leaving getting jobs requiring FSA approval. That compares with 23 per cent of BNP Paribas employees and almost 30 percent of Goldman Sachs staff, the research showed.

(03|2013) Source: Bloomberg