London to take majority of UK finance hiring in 2026

London is set to account for most UK finance hiring for the first time, with vacancies in the capital forecast to rise 17% in 2026, according to research from Morgan McKinley and Vacancysoft.

That would give London 52% of all UK finance recruitment, further concentrating hiring activity in the capital. The report projects London's growth rate will outpace the rest of Britain by more than five to one.

The findings suggest demand across financial services will remain steady even as employers stay selective about where they add staff. Hiring is expected to centre on roles tied to regulation, technology projects and specialist finance functions, rather than broader support areas.

Sector split

Accounting and consulting is expected to post the fastest growth among London finance employers, with vacancies projected to rise 21%. Within that segment, accountant roles are forecast to jump 32% as firms respond to AI implementation, sustainability reporting and audit reform.

Technology hiring is also expected to remain strong. IT professional vacancies across London finance are forecast to rise 22%, reflecting investment in reporting systems, compliance tools and broader platform modernisation.

Banking vacancies are forecast to increase 16% in 2026. The sector remains the largest occupational category, accounting for more than 42% of vacancies.

Within banking, employers are expected to keep directing recruitment towards technology-related positions. IT professional vacancies in the sector are forecast to rise 29% as banks continue work on cloud migration, cyber security and AI-related programmes.

Big recruiters

Some of the largest increases are forecast at global banks and professional services firms with sizeable London operations. JPMorgan Chase is expected to increase hiring by 27%, while Barclays is forecast to expand vacancies by almost 28%.

Deloitte is projected to post the sharpest rise among the organisations listed, with vacancies climbing by more than 60%. Other employers expected to record strong growth include Accenture at 50%, NatWest at 54%, State Street at 40% and BlackRock at 36%.

The report's ranking of leading employers in London finance and professional vacancies shows JPMorgan Chase at the top in each of the three years covered. Its vacancies were listed at 1,638 in 2024, 2,059 in 2025 and an estimated 2,618 in 2026.

Barclays ranked second, with vacancies rising from 676 in 2024 to 1,032 in 2025 and an estimated 1,318 in 2026. Deloitte followed with 421 roles in 2024, 616 in 2025 and a projected 990 in 2026, while Accenture's total is forecast to rise from 298 to 726 over the same period.

LSEG also featured among the top employers, though with more modest growth. Its vacancies were listed at 501 in 2024, 634 in 2025 and an estimated 654 in 2026.

Skills pressure

The figures suggest employers are increasingly combining traditional finance recruitment with demand for digital skills. That trend appears strongest where regulatory compliance, reporting changes and internal systems upgrades overlap.

They also indicate that London is reinforcing its position as the main centre for UK finance recruitment as firms concentrate investment in specific functions. The result is a market where hiring volumes are rising, but the range of sought-after skills is narrowing.

Florence Edwards, Associate Director, Finance & Accounting at Morgan McKinley, commented on the recruitment backdrop.

"London is strengthening its position as the UK's finance recruitment hub, with investment increasingly concentrated in technology, regulatory capability and specialist financial expertise. As firms modernise operations and respond to evolving regulatory requirements, hiring is becoming more targeted, particularly across banking, consulting and finance transformation.

Competition for experienced professionals is intensifying. Employers are looking for candidates who can combine technical finance expertise with digital and analytical skills, but supply remains limited. Organisations that can move quickly and offer a compelling opportunity will have a significant advantage," said Edwards.