The banks’ move to increase headcount is the first since 2015. In 2016, Europe’s top investment banks slashed 12,000 jobs. As part of restructuring plans, Credit Suisse, Deutsche Bank and Barclays carried lay-offs to downsize their workforce.  

Last year, Credit Suisse, Deutsche Bank and UBS made advancements in hiring new staff, which shows in their full-year report, according to Financial Times. Barclays also increased staffing in 2017.

The second half of 2017 saw Credit Suisse, Deutsche Bank and UBS overall include 3,000 jobs, and Barclays add 2,500 in the same year, excluding Africa. Towards the end of 2017, the staff recruitment by all four banks totalled 285,500.

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October 12, 2016: Nearly three-quarters (73%) of small businesses with over five employees plan to grow dramatically or moderately over the next two years, according to a new report by Albion Ventures, one of the largest independent venture capital investors in the UK. Only 5% think they will shrink or wind down.

Based on interviews with 1,000 SMEs, the fourth Albion Growth Report sheds light on the factors that create and impede growth in post-Brexit Britain.

Finding skilled staff is the biggest challenge

With 50% of small businesses with over five employees planning to grow their headcount over the next two years, finding skilled staff tops the list of challenges business owners face, up from third place in 2015.  It is a particular problem for manufacturing, construction, medical and healthcare companies. In sixth place, the decision to leave the EU ranks below perennial challenges such as red tape, regulatory change and the difficulty of accessing new markets.  Lack of access to finance – one of the major problems voiced by SMEs during the recession – has fallen to 13th place from fifth last year.

Manufacturers and tech firms most optimistic

On a sector basis, manufacturing companies are the most bullish about growth and the most relaxed about Brexit while retailers and construction companies are the gloomiest.

Brexit – a split verdict

Businesses are overall split on the impact of Brexit with a third (36%) thinking it will help them enter new markets and 41% expecting it to be a hindrance. However, the report shows significant differences among SME owners towards Brexit by region, size and age that show similarities to the result of the vote in June. Among those groups that are most concerned is millennial business owners aged under-35, of whom half (54%) think Brexit will hinder their ability to access new markets. Leaving the EU ranks as the single biggest obstacle to growth among small business owners in Scotland and was in third place among those in London. Those groups that are the least concerned about Brexit include sole traders, 56% of whom said it would have no effect on their growth potential.

East Midland-based entrepreneurs are the most bullish

Regionally, business owners in the East Midlands were the most optimistic about growth (70%), followed by the East of England (69%) and London (65%). Wales was the most pessimistic region in this year’s report with only 39% foreseeing growth.

Appetite for equity finance

Over a quarter of firms would consider investment from venture capital, private equity or business angel, rising to a third among larger firms with more than five employees. On a sector basis, over half (52%) of IT and telecom firms are open to equity finance while construction trails at just 13%.

Patrick Reeve, Managing Partner at Albion Ventures, said, “Against a backdrop of profound change, one element that has remained reassuringly unchanged is the optimism underlying the UK’s small businesses. Firms are looking to grow their headcount and productivity is on the increase. The biggest barrier to growth — finding skilled staff — is generated by success rather than failure.

“The downside is that the economy is coming under capacity constraints at a time of considerable political uncertainty. While many of the pressures on growth we have seen in recent years have eased, the skills that enable us to compete are in short supply.”

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July 27, 2016: The global professional services consultancy Turner & Townsend has increased its turnover by eight per cent to £409m in the year ended 30 April 2016.

The company, which employs nearly 4,300 staff across 97 offices worldwide, has now notched up six consecutive years of revenue growth. Its profit after tax of £30m has almost tripled in five years. The success has been achieved in the face of volatile market conditions over the past year, and thanks to a flexible and resilient long-term strategy. Turner & Townsend’s diverse activity is spread across three core sectors – real estate, infrastructure and natural resources – and 41 global markets.

This flexible approach has helped it absorb market shocks and continue to thrive. For example, the company’s Middle East operation balanced last year’s abrupt fall in oil prices through increased real estate and infrastructure work – and successfully grew total revenue by 24 percent.

Annual revenue rose by a quarter (24 percent) in the company’s Australia and New Zealand operation, nine percent in Europe and 14 percent in the UK and Ireland – where turnover reached a record £180m. Revenue also grew in Africa and Latin America.

Across its sectors, the company recorded strong growth in global real estate revenue (up 15 percent to £196m) and infrastructure (up 16 percent to £123m), which more than offset the impact on revenue from challenging conditions seen in the natural resources sector.

A series of high-profile project wins underpinned this success, including commissions to support the delivery airports in Houston and Dallas, the UK’s High Speed 2 rail line and Australia’s largest-ever hotel and residential complex, The Jewel.

Vincent Clancy, CEO for Turner & Townsend commented:  “Our achievements are a testament to the strength of our business, despite a backdrop of significant volatility.

“The past year has seen us become the partner of choice for many of the world’s largest capital programmes, and our diversified business model continued to serve us well – giving us the flexibility to adapt to changes in individual markets.

“Through our partnership, we’ve continued to invest in our people by giving a pathway for our most talented employees to become partners – with a say in how the business is run and a share in our success.

“With the UK set to leave the EU and volatility in other global markets, these are changing times for our industry. However, 70 years on from our formation, I am confident our strong business model and investment in our capability will continue to see us on the right path to deliver long-term sustainable growth.”

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