Investment banks continued to hire marketing and communications staff into permanent roles last year, despite some organisations being reluctant to increase headcount. There was also a significant uplift in contract and interim roles in the second half of the year. Banks sought to counter the difficult economic conditions in the first half of 2012 by running roadshows and events and they hired managers and coordinators to oversee them.
Over the last 12 months the major retail banks have cut back on both permanent and contract hiring as they concentrated on large-scale restructuring programmes. When they did recruit, they tended to advertise assistant to middle management positions, which reflected their new, flatter structures. In other words, managers that devise the marketing strategy now have to deliver it.
During the last year investment management firms made a number of permanent hires within communications management and the middle ranks of marketing. Fixed term contractors were in particular demand to cover roles within investor relations, events and roadshows while there was an increased need for temporary communications managers to work on short term projects related to the Retail Distribution Review.