Trying to stop top young talent from being poached.
The bank is shortening its analyst program to two years from three, promoting those with good performance to the title of associate one year earlier than it would previously, Christian Meissner, head of corporate and investment banking, said in a memo to staff. The changes will take effect with the class hired last year, while those who started in 2016 can get earlier promotions on a case-by-case basis.
“We are committed to providing a competitive and successful junior-banker experience and are confident this enhancement will encourage long-term careers at the firm,” Meissner wrote.
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