Retaining young talent.
Bloomberg News reports that Toronto-Dominion Bank is speeding up promotion opportunities for junior investment bankers to retain young talent in what it describes as “an increasingly competitive environment across North America.”
The bank’s TD Securities unit will make analysts eligible for a promotion to associate after two years instead of three, according to an internal memo distributed Monday and confirmed by a bank representative.
“To continue to attract and retain exceptional new colleagues, we need to demonstrate leadership among our peers and commitment to the development of our people,” Vice Chair and Head of Corporate and Investment Banking Robbie Pryde wrote in the memo. “We must also ensure that TD is top of mind as an employer of choice among graduates.”
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