Bank boss promotes benefits of older people in finance jobs

UBS senior economic adviser George Magnus has suggested that recruiters need to "think more flexibly" particularly with regards to people over 50 years old, something that may interest those seeking banking jobs in London.

He claimed that "the UK needs to re-boot its ideas about how it adapts to ageing", adding that there should be debate about how businesses and the public, as well as the government, can address this issue.

Mr Magnus was commenting on a push by business minister Pat McFadden to highlight the skills and experience that older workers can bring to organisations and the additional spending power they can offer the economy as a whole.

At a meeting of representatives from charities and industry to discuss the jobs market and Britain''s ageing population, Mr McFadden suggested that is important to ensure the country is "harnessing the skills" of older people.

More than one-in-three people in Europe is expected to be over 60 years old by 2050, placing additional pressure on services, while figures published by the Office for National Statistics last year showed that the percentage of the UK population aged 65 and over rose by one percentage point between 1983 and 2008 to 16 per cent.