Royal Bank of Scotland Global Banking & Markets is making a big pitch to encourage graduates / interns to join the ranks this year.
Here's a note sent by Global Banking & Markets boss John Hourican to grads / interns the firm wants to get on board:
'As 2009 draws to a close, it's time to reflect on the year that has been and look forward to planning for what we would like to achieve in 2010. Despite what you may have read or heard in the media, we have a clear strategy in place that defines where we want to be, and how we plan to get there.
Graduates and interns will have a big part to play in that process and a tremendous influence on our big decisions going forward. With that in mind we're investing heavily to give them all the support, encouragement and inspiration they need.
It's been a tough year, there's no denying that. But we're working on our recovery plan to build a business that'll be stronger than ever before. Join us and you could be one of those who make it happen'.
One banker told Here Is The City: 'This is a smart move by RBS. The global banking & markets unit will have had to pay out 'danger money' to get key lateral hires on board, and many potential hires will be put off by the fact that the bank is majority UK-government owned. Bringing in raw talent makes sense. And, strange as it may seem, graduates joining RBS may be exposed to more and learn more quickly than they would joining any other firm at the moment'.
Finally, The Daily Express reports that traders over at RBS Sempra can breathe a huge sigh of relief, as their bonuses do not appear to be covered by the UK bank payroll tax.