A shortage of good positions is driving talented human resources professionals from the City of London, say HR recruiters. Lip service about the importance of employees has generally not translated into a significant role for human resources staff in financial services, many of whom are resigned to life as administrators.

According to HR recruiter, Justine Aspey at Adway Associates, investment banking has long been judged to be behind other sectors in recognising the value of the HR function. Undervalued and under-utilised, top HR talent is leaving for pastures greener, lured in particular by dot-coms and self employment.