Almost three quarters of businesses in the financial services sector expect to see jobs growth this year, according to a new survey from the Association of Compliance Officers of Ireland (ACOI).

The survey of 250 organisations, answered by ACOI members with responsibility for compliance in financial organisations throughout the country, revealed that as much as 74% of businesses believe the sector will see notable recruitment.

That figure is up from 64% when the same survey was undertaken by the ACOI in September 2020.

70% said they are not expecting to see cuts to pay and or benefits in their firms this year, a marked improvement on the 51% who felt the same in September of last year.

Michael Kavanagh, CEO of ACOI, said these results shine some positive light on the prospects for Ireland's financial services sector.

"We were greatly encouraged to find that positive sentiment towards recruitment has improved again since September, when we last put this question to our members, with 10% more respondents believing that the sector would recruit this year up from 64% to 74%.

"While there is certainly trepidation and uncertainty out there, the survey does portray a sense of cautious optimism that hiring of staff can get up and running again, perhaps now that some of the deepest uncertainties triggered by the pandemic, and indeed Brexit, have begun to ease," he said.