A new report says that a shortage of staff in the financial services sector is holding back further growth.
The lack of skilled staff is a most severe situation, according to the report published by the Confederation of British Industry.
Insurers, banks, building societies and securities traders are all affected by the situation, and are becoming worried about the possible impact this may have on the industry.
The fears are linked to the growing fears that IT systems cannot keep pace with the rapid technological advances that are occurring in the financial services industry.
PricewaterhouseCoopers head of European insurance Ian Dilks says “Firms cited the lack of properly qualified staff as a constraint, and there's some suggestion of concern about the ability to recruit IT professionals.”