A technologist I am currently working with tried to post this as a comment on my previous post – I couldn’t work out how to get it on the comments either, but I thought it was posting here:
Indeed, the entire banking sector is recovering. However, several aspects need to be taken into account before being truly optimistic:
– the regulatory landscape is very different from what it was 5 years ago, and is now imposing new capital requirements which will prevent banks from massively investing in growth
– clients have been showered with risk suddenly becoming reality. The volumes in equity are still well below what they were before the crisis. They may never come back.
– more regulation, more risk management, more automation (to cut operational cost) means more IT, meaning that many open IT roles may simply reveal a change in staff balance, rather than a global recovery.
On the regulation front I would add that the burden of regulation comes in two forms: less profit and the obstacles it creates for the business