Martin Spurling, chief executive officer at Jersey-headquartered HSBC International, said this week that the Island was also a comparatively expensive place to recruit staff.
Mr Spurling said that the recent population debate had been ‘a key issue’ for the banking sector.
On a scale of one to ten, he said he would give the Island’s skills base four and the cost of the local workforce six.
‘There are not enough skills at the higher value end, recruitment is hard, and the cost is outrageous. We have a real problem,’ he told a seminar audience.
• See Friday’s JEP for full story.
