Morning Coffee: The weird new hiring wants of Goldman Sachs. J.P. Morgan’s applicant issues

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If you’re a university student with aspirations to work for Goldman Sachs, you might be thinking about completing some internships with the firm, heading up your university finance club, running a few university finance conferences, studying at a prestigious university overseas, or running a little play-fund while you study. But guess what? – You’re doing it all wrong. Goldman Sachs doesn’t want these sorts of finance obsessives. It’s more interested in the kinds of people who want to save the world and grow abundant facial hair.

Such is the implication of Goldman’s new Snapchat-based hiring campaign. Buzzfeed reports that Goldman has taken to the instant messaging service with a series of short ‘Career Stories’ aimed at attracting new staff. The stories are titled,“App Developer,” “Game Coder,” “Crowd Funding Champion,” and “Campus Environmental Leader.”  If you look for them on Snapchat, you won’t find them. Goldman’s vignettes are only visible to students at ‘specific college campuses’ who’ve been ‘in and around the campus’ during the past 24 hours. It's all part of the firm's new 'brand strategy.' - If you want to work for Goldman you need to be hip.

Separately, J.P. Morgan’s history of hiring Chinese princelings won’t die quietly. The Wall Street Journal  claims to have seen emails sent by Charles Li, who was chairman of J.P. Morgan China from 2003 to 2009 and is now head of the Hong Stock Exchange.

Whilst at J.P. Morgan, Li was reportedly instrumental in the recruitment of a ‘large number’ of people referred by their parents. The Beijing intern class of 2008 was a particular headache for Li, says the WSJ. I am getting quite tied with all these requests but guess that most of my clients are getting to the age that their children are reaching intern age,” he complained in one email.


Credit Suisse plans to hire 300 new people in the US. (NewsObserver)  

Brian Moynihan says BofA is poised to make more redundancies if revenues soften. (WSJ)

Goldman Sachs partner 'retires' in December, reemerges as European CEO of Optiver nine months later. (Financial News)

Jamie Dimon is not so sure about Blockchain. (Coindesk) 

Jamie Dimon is not sure he has the skills to become president. (Guardian)  

The careers advice of Donald Trump. (BigStory)

Lloyd Blankfein has some doubts about Donald Trump: "“It’s hard to imagine his finger on the button. That blows my mind.” (Bloomberg)

The careers advice of Tom Hayes: "Computer programming is a future proof job." (WSJ) 

Look who’s hiring in Luxembourg. (Bloomberg) 

London banks are reaching tentatively out to Jeremy Corbyn: ““There’s not much we can contribute to in a constructive way to the overthrow of capitalism.” (Financial Times)

“I have made the majority of my net worth in, I would say, no more than 20 days’ trading.” (Telegraph) 

Photo Credit: Christopher Michel


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