Banks set to take on extra staff - graduate jobs

Graduates looking for jobs in the banking sector will be interested to hear reports that the big high street banks are set to hire up to 6,000 extra staff to deal with complaints on mis-sold payment protection insurance.

According to the Guardian newspaper, Lloyds Banking Group, Royal Bank of Scotland, Barclays and HSBC are looking at temporary offices in which to base the extra staff.

The new recruits will handle customers who believe they could be due compensation after the banks abandoned an appeal of a decision by the FSA, which had demanded they compensate customers who had been mis-sold PPI.

The banks now expect to pay out more than £5 billion in compensation and administration costs.

Industry sources believe the banks will need to take on around 6,000 staff to deal with the claims from customers.

None of the banks have commented on whether they will be taking on extra staff to deal with the complaints.