Deutsche Bank has begun using social media feeds such as Twitter and LinkedIn as part of its search to recruit promising millennials who might be interested in a career within the financial services sector, reports the Financial Times.
According to the business daily, Germany’s biggest bank launched a programme late last year to monitor the online activity of university students. The aim is to identify individuals who might prove a good fit for the bank, but would not apply through traditional channels such as on-campus recruitment drives.
The FT reports that over the first two weeks of the initiative in late November, a special team at Deutsche Bank identified 250 potential hires. They were then encouraged to take part in the bank’s UK graduate recruitment programme.
The scheme, described as the first of its kind for a bank, was adopted in response to top graduates’ increasing disinclination to pursue a career in banking. Executives also believe that broader skills and experience could benefit banks by producing a staff more adept at challenging existing practices and innovating.
Faye Woodhead, Deutsche’s head of graduate recruitment and human resources, told the FT that the bank launched a recruitment drive among students in certain clubs and societies at about 30 UK universities from which it already recruits.
It then uses social media to develop a profile of the students it wished to target, similar to the digital headhunting widely used for hiring experienced professionals.
ExxonMobil is legally challenging a $2m fine from the US Treasury for allegedly violating sanctions against Russia in 2014 while US Secretary of State Rex Tillerson was still overseeing the company.
Morgan Stanley is moving staff to Frankfurt in time for the March 2019 Brexit deadline.
The US bank, which already has 350 employees based in the city, will transfer some trading activities currently undertaken in London and create a further 150 to 250 jobs according to reports.
BNP Paribas is the latest in a long line of financial service companies to be penalised for misconduct during the financial crisis on both sides of the Atlantic.