The term 'nearshoring' is probably one of the worst examples of the jargon-filled world of investment banking. But expect to hear it more often, especially if you’re in a front-office role.

In plain English, nearshoring means to outsource operations to locations that are close enough to major financial centres to be able to serve companies' big clients, yet far enough away to benefit from any or all of lower taxes, cheaper rents and a less expensive workforce.