The apprentices will work in Goldman’s technology division; when they graduate after a four-year course will have a shot at a full-time position with the US firm.
Damian Sutcliffe, head of EMEA technology and global head of operations technology at Goldman, says the firm is “excited by the possibilities and opportunity this provides”. Along with “combining the dynamic work environment of our technology hub with innovative junior talent” it also provides unlimited opportunity for Alan Sugar jokes and telling people ‘You’re fired!’
Maybe Goldman could double-up on its investment by selling the rights to a reality TV show to document the apprentices’ development. This would probably benefit from the initiative being broadened out to other parts of the bank. The teams of apprentices could be dispatched to see which could collect the largest fees from selling financial products to some of Goldman’s favourite clients, such as loans to Malaysia’s 1MBD or credit default swaps to AIG.
Maybe the two teams that manage to extract the largest fees for such services could then be set a final challenge to sell currency swaps to Greece or other peripheral eurozone nations. What could possibly go wrong?