Drew Goldman Deutsche Bank

Summary List Placement

Deutsche Bank is offering its incoming US investment banking interns the choice to come into the office this summer, a spokesperson for the bank told Insider.

The bank informed its class of 141 interns this week that the 10-week internship will be a hybrid program, changing course from its March 1 announcement to interns that the program would likely be virtual. 

The interns have until April 26 to respond to a survey the bank sent them in which they must indicate whether they will participate virtually or in-person. Interns who choose the in-person program will come to the office three days a week. While most of the US investment banking interns will be based in New York, some were hired into offices in Chicago, Boston, San Francisco, and Jacksonville. 

The spokesperson said the bank came to this decision after monitoring regional pandemic guidelines and receiving feedback from its Junior Leadership Council, a group comprised of junior employees which bank leadership consults for input on key issues. 

Drew Goldman, Deutsche Bank’s global head of investment banking advisory and coverage, told Insider in an interview that more than half of the interns had already turned in their surveys, and of that group, over 90% want to be in the office this summer.

Goldman, who started his career as an analyst at Bear Stearns, said that the in-person program will allow interns to gain a deep understanding of the job, but that the bank is committed to providing the same quality experience for every intern regardless of their choice. 

“A natural reaction for someone could be, let me go down the aisle to the desk where the intern is versus, let me Zoom [them]. We as a senior team have committed to not advantaging or disadvantaging people because of whether they’re in-person or whether they’re remote. It will require more work on our part to make sure that they are part of deal teams but we all want them to get evaluated on an equal basis with other people who are there in person,” Goldman said.

“It’s going to be harder, it might even be awkward at times, but we’re going to have to find ways to be able to do that so that everyone feels that they’re a part of the team and a part of the analyst process.”

The bank emphasized the importance of inclusion in its recruiting process for this year’s intern class. The class, …read more

Source:: Business Insider


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Deutsche Bank is letting its US investment banking interns choose whether they go back to the office or not this summer

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