THE number of new financial services jobs available in Scotland's largest cities has increased by more than 20 per cent since the independence referendum.

Research, compiled by recruitment firm BrightPool, found there were 3,070 vacancies in the financial sector across Edinburgh and Glasgow at the start of May.

That was up on the 2,530 which had been recorded in September last year.

That is a marked difference from the picture across the UK where vacancies increased by around two per cent from 45,000 to 46,000.

Angela Hickmore, managing director of BrightPool, warned sentiment amongst Scottish financial services companies may get weaker if there continues to be pressure for another independence referendum.

She said job vacancies in Edinburgh and Glasgow dropped 19 per cent ahead of the run up to last September's vote as a number of big employers in the sector considered moving some operations to England.

Ms Hickmore said: "Recruitment activity in Scotland's financial services sector had rebounded sharply after the industry put hiring on pause until the referendum was out of the way.

"Glasgow and Edinburgh are two of the UKs great financial services centres with significant reserves of sector expertise so it would be a shame to see political uncertainty slow recruitment there."

Ms Hickmore suggested Scotland is an attractive destination for financial companies as it has a long heritage in the sector, a highly educated workforce and a lower cost base in areas such as wages and office rental.

She believes the rise of challenger banks has helped to boost job numbers in the Scottish financial sector.

Tesco Bank and Sainsbury's already have substantial offices in Scotland while Virgin Money, TSB, Shawbrook and Aldermore are among the others which have Scottish operations.

Ms Hickmore said: "Both challenger banks and the big established financial services employers are looking to keep cost-to-income ratios under control. Avoiding the high average salaries and rents of the City of London or the Docklands can mean significant savings."