Specialist areas of financial services will continue to thrive despite the sector as a whole growing at a slower pace than in the recent past, according to a new report.

The Ernst & Young Item Club says that, although the financial services industry will not return to the pre-recession growth levels of 7% to 8%, areas such as insurance, asset management and wholesale finance will to continue to thrive.

Lucinda Brown, UK managing director of specialist risk, legal, tax, insurance and interim recruiter GRS, told Recruiter that following the stress tests carried out on the US banks, and the Turner Report, in the UK, she expected “a large demand” for people with specialist skills who can adapt to the new regulations across areas such as compliance and risk. 

“I also expect a large demand for people with technical skills within the bigger insurance space such as underwriting, actuarial and claims,” she added.