Banks are taking a more “socially acceptable and responsible” approach to bonuses but it is unclear whether they are meeting candidate expectations, according to Steve Leeson, operations director – Morgan McKinley Financial Services.

Leeson’s comments follow in a week in which reports suggest the Prime Minister has seemingly conceded defeat over banker bonuses and in which Barclay’s chief executive Bob Diamond said the time for remorse about bonuses is over.

Leeson told Recruiter: “London continues to offer a breadth of career opportunity for experienced and talented financial services professionals and not just in the front office. Early 2011 promises to be an interesting period as we see whether businesses are able to meet candidates’ expectations both internally and where ambitious individuals are looking to move bank to bank.

“Banks have taken a more socially acceptable and responsible approach to bonus payments in 2011 by increasing the total percentage of remuneration as stock and also prolonging the period over which full payments are made.

“It remains to be seen how the market reacts to this deferred reward and whether the demand for talent in a more stable environment leads to a return of guaranteed bonuses in the year ahead.”