Financial companies need to make sure that they are developing the management skills of their employees, a study by the Association of Chartered Certified Accountants (ACCA) has found.
The findings of the research by the body indicate that leadership skills are crucial in the finance world and companies may be failing their staff by not equipping them with management skills.
According to the survey, 90 per cent of finance professionals believe a strong finance leader is vital for a firm's success.
Head of learning and development at ACCA Tony Osude commented that companies must address the issue of training.
"Employers must have good succession plans in place - given the importance of the finance role, now and in the future, this is an investment organisations cannot leave to chance, luck or simple good fortune," he said.
He added that finance leaders must exhibit chief executive qualities.
It was found recently by the Office for National Statistics that financiers had been the main beneficiaries in the bonus boom at the beginning of the year.
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