Mifid II job vacancies grow fourfold in a year

General-Business-Handshake-Hire-Appointment-700x450.jpgAsset managers and brokers have been rushing to add Mifid II-related specialists over the past year, research shows.

Data compiled by LinkedIn on behalf of the Financial Times, shows that 1,300 Mifid II-related jobs were advertised on the website at the end of October.

LinkedIn said the number of Mifid II jobs advertised by asset managers, brokers and wealth managers has increased fourfold in a year.

A third of the roles advertised on the professional networking website are based in London.

Mifid II, which has already been delayed by a year, will be officially implemented on 3 January 2018. The European regulation is meant to offer more protection to investors across trading, covering a wide range of areas such as transparency of costs and research payments.

Consultancy Quinlan & Associates chief executive Benjamin Quinlan told the FT that many companies had rushed to boost their personnel as a last minute move.

He says: “There is a lot of paperwork and logistics to deal with in the next few months. [The hiring spree] is really a last-minute panic.”

Morgan McKinley compliance team leader Caleb Hawkins says product governance and investor protection specialists are the the highest paid jobs around Mifid II and those most in demand.

He also says Mifid II is the only project-based piece of hiring firms have not rolled back on because of Brexit-related uncertainties.