Company executives seeking jobs overseas

A number of senior executives are seeking jobs overseas to escape the economic downturn in the UK, a new report has found.

Research commissioned by the recruitment website Experteer revealed that instead of putting their talents to work in UK jobs, increasing numbers are moving abroad.

Switzerland was found to be the most popular place for company executives thanks to its strong economy, while the finance, professional services and IT sectors were named as the most vulnerable to the skills exodus.

But it is not just the UK that is losing talent to other nations. Executives from France and Germany are also leaving their home countries, the study found.

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Torsten Muth, UK managing director of Experteer, said: "It is clear that the credit crunch has hit the UK hard.

"Talent is now far more mobile and we see increasing numbers of footloose, highly-talented individuals willing to relocate across Europe."

Meanwhile, reports suggest that thousands of bankers on Wall Street are relocating to Asia where national economies are growing quickly.