Put the flags out!
The New York Times reports that as part of its effort to improve working conditions for its youngest employees in its global corporate and investment banking unit, the company has hired more junior bankers, the latest sign of a shifting corporate culture on Wall Street.
The incoming class of full-time analysts and associates, who start work later this month, will be almost 40% larger than last year’s class. This year’s summer analyst and associate class was also about 40% bigger than it was in 2013.
'Our increased hiring reflects our desire to invest in our people in light of our growing activity levels and the need to provide more support to our junior bankers to have a better experience', Christian Meissner, the head of global corporate and investment banking, said in an internal memo sent last week. The memo provided a review of the first half of the year, including updates on mergers and acquisitions and initial public offerings, according to the spokesman.
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