The number of financial services executives gaining expertise in artificial intelligence has risen sharply — increasing by 80% over the past 12 months, according to a recent industry update from The Barrett Group.
This surge reflects the rising demand for technological acumen within the sector. Executives working in Banking, Investment Banking, and International Trade and Development have been particularly active in upskilling. Year-on-year growth in AI capabilities within these fields has reached 153%, 136%, and 141%, respectively.
The Barrett Group, a leading executive career management consultancy, estimates that around 1.3 million executives are currently working in the broader financial services industry.
The firm also notes a 3% rise in executive headcount over the past year, with nearly 59,000 professionals changing roles. In total, it estimates that the financial services sector saw approximately 100,000 executive-level opportunities arise in 2024. Strong hiring trends are expected to continue, particularly for forward-thinking, adaptable leaders who embrace emerging technologies.
“All in all, the conditions appear to be relatively positive for continued growth in the overall Financial Services sector, whether due to increasing penetration in an increasingly wealthy population, lower inflation, improving access to capital, almost unlimited innovation, the potential benefits of harnessing AI more widely… the list goes on,” said Peter Irish, chairman of The Barrett Group. However, he notes, “Political upheaval, geopolitical tensions, regulation, and global warming, on the other hand, certainly represent challenges to all of this positive momentum.”
The Barrett Group adds value to its clients by offering deep industry analysis and tailored career guidance. Alongside bespoke career management services, it publishes regular Industry Updates, delivering insights into trends shaping sectors such as Financial Services. These updates provide a valuable resource for executives assessing market shifts, technology disruption, and opportunities for progression.
Unlike traditional recruitment agencies, The Barrett Group works directly with individual candidates rather than employers. Its structured career management programme includes personalised assessments, goal-setting, and strategic job search support — all designed to help clients secure ideal roles with optimal compensation. The firm reports a 90% success rate among clients who follow its process.
Since 2020, The Barrett Group has featured on Forbes’ list of top executive search firms in the United States. It holds an A+ rating from the Better Business Bureau, a 4.6-star Google rating, and showcases over 80 detailed client success stories on its website.
