A Report on Employment Trends in the Financial Services Sector:
London, Middlesex, Elgin, Oxford, Huron and Lambton

INTRODUCTION

• The financial services industry plays an essential role in the everyday lives of Canadians. This sector not only provides a large source of employment for many workers but is also an important contributor to the economic growth and stability of our country. This report examines employment trends in the financial services sector in London and the surrounding five county region: Middlesex, Elgin, Oxford, Huron and Lambton. The goal of this report is to assess the demand in various occupations throughout the industry in the years ahead. Specifically, we are interested in identifying jobs or occupations that are likely to be hiring or seeking new recruits as well as those which may provide fewer jobs in the future. The report is intended to serve as a guideline for those seeking employment or retraining in the industry by pooling the views of experts in the industry with respect to skills, education, and training.

• To gather the information needed, we contacted employers and industry commentators in the five county region in order to gain an understanding of their perceptions regarding current issues surrounding employment, training, recruitment and the industry in general. In most cases, our interviews were conducted with managers, human resource professionals, or the individuals who were best acquainted with the hiring and training practices of the particular company or firm. Our interviews focused on the current and future economic prospects for the industry, the situation of their organization, the skills and educational credentials required of employees, as well as trends that may affect employment and the way jobs are done within the industry. We also asked our interviewees to identify the traits or characteristics they would most value in new recruits and to provide some advice to those who may be considering a career in financial services. Our goal in this report is not to list current job vacancies, but rather, to provide a long-term profile of employment trends within the industry. Given the transformations occurring in the financial services sector, it is our belief that persons considering employment in the industry need to look at the longer term outlook when making decisions about building a career in financial services.