Goldman Sachs has implemented a new policy requiring junior bankers to certify every three months that they have not accepted job offers from private equity firms. This measure aims to curb aggressive recruitment tactics by buyout firms that have been targeting junior bankers early in their careers, sometimes just months after they begin their roles. The policy reflects a broader trend among major financial institutions, including Morgan Stanley and JPMorgan Chase, which are tightening rules around analysts' disclosures of future employment to counteract intensified private equity hiring efforts. The move underscores the competitive landscape for talent between investment banks and private equity firms.
JPMorgan Chase, $JPM, 'requires workers give 6 months notice' before quitting, per NYP
Citigroup $C has poached 2 senior JPMorgan $JPM bankers, Bloomberg reports. Aloke Gupte will become global co-head of equity capital, while Alex Watkins takes on a new role as head of tech financing. Both previously led JPM’s ECM business outside the US. https://t.co/rnlNZcq4FW
Citigroup Signs Two Senior J.P. Morgan Bankers in Major Hiring Move 💼🤝