Recent breaches in cybersecurity have caused chaos across manufacturing and retail. With financial services firms and the FCA preparing for further threats, Senior Consultant Christopher Wright considers how regulatory change, innovation and security are impacting recruitment.
Digitalisation in Financial Services – The Rising Importance of Cybersecurity
The cyber-attack on Jaguar Land Rover is estimated to be costing £50 million a week in lost production - a stark reminder of the growing digital threats facing UK companies, and the vulnerabilities that accompany technological progress.
In Core-Asset’s 2025 Salary Guide, we explored how financial services firms were embracing digitalisation. Now, as we move through the year and look ahead to 2026, it’s clear that transformation has accelerated - driven by regulators, government strategy, and significant private investment. But as the industry digitises, so too do the risks.
The Expanding Threat Landscape
The cyberattacks on the Co-op, M&S, and Harrods cost hundreds of millions in lost revenue and consumer trust. The recent Jaguar Land Rover breach disrupted supply chains and halted production for weeks, highlighting the devastating operational and reputational risks of cybercrime.
Financial institutions are paying close attention. A single cyber-attack could destroy consumer confidence - a critical asset in a sector built on trust, data integrity, and operational resilience.
UK CEO of HSBC Ian Stuart recently acknowledged that the bank is “being attacked all the time” - and that cybersecurity now represents their single largest cost. An EY study found that globally, banks are dedicating around 11 % of their IT budgets - over £20 billion - to cybersecurity this year alone.
“The rise in cyber threats has fundamentally changed the talent landscape across financial services.
Organisations are no longer just recruiting IT specialists - they’re looking for strategic cyber leaders who can both deliver technological innovation and safeguard the systems that underpin it.”Christopher Wright Senior Consultant, Core-Asset Consulting
The Regulatory and Policy Push
The FCA’s Strategy 2025–2030 recognises cyber resilience as a cornerstone of operational resilience. The regulator’s goal is to strike a balance - ensuring enough protection to foster a secure financial ecosystem without stifling innovation.
This year’s launch of the FCA Supercharged Sandbox exemplifies this: a secure environment allowing firms to test AI and digital solutions safely, reducing barriers to innovation while maintaining oversight.
The UK government’s Cyber Growth Action Plan 2025 sets ambitious targets too - projecting the cyber sector will contribute £13.2 billion in annual revenue and employ more than 67,000 people. Cybersecurity has been formally recognised as one of the “frontier technologies” underpinning the UK’s competitiveness.
“Demand is particularly strong for professionals skilled in security architecture, incident response, cloud and infrastructure security, AI governance, and risk modelling. But the real differentiator now is the ability to connect these technical capabilities to wider business strategy and risk management.
Firms increasingly want individuals who can translate complex cyber risk into commercial language, advising senior leadership and influencing decision-making at board level.Christopher Wright Senior Consultant, Core-Asset Consulting
Looking Ahead – The Balance of Innovation and Security
As digital transformation continues to accelerate, the balance between innovation and security remains in constant flux. Financial institutions must continue to invest not only in new technology, but equally in the people who can protect, manage, and optimise it.
The financial services sector of 2026 will be shaped by those firms that successfully merge innovation with resilience - embedding cybersecurity into every level of strategy, culture, and governance.
“The challenge is that demand is outpacing supply, creating a significant skills gap that will only widen unless organisations invest in both hiring and upskilling.
The best cyber professionals today are not just defenders - they’re enablers. They understand innovation, regulation, and resilience, helping firms move forward securely while maintaining trust and operational integrity.”Christopher Wright Senior Consultant, Core-Asset Consulting
Building Resilience in Partnership with Our Clients
At Core-Asset Consulting, we work across the full financial services ecosystem - from asset managers and banks to fintechs and insurance providers - helping organisations build resilience through people.
Our sector specialists understand the intersection of technology, regulation, and risk, and support clients in identifying talent that not only safeguards systems but also enables transformation.
Through data-led insights, specialist networks, and long-term partnerships, we help firms future-proof their digital capabilities - ensuring that innovation is matched by control, and that business growth is protected by security.
Read more of our insights in the 2025 Salary Guide.