Morgan Stanley is using Snapchat to recruit the next generation of bankers

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Scott Eisen/Getty Images for Get Schooled Foundation

Students at Harvard University taking a selfie.

Morgan Stanley has just started using Snapchat, the popular messaging app, to welcome back college students at 19 universities across the US.

Students at UPenn, Harvard, Villanova, Howard, and 14 other college campuses will be able to snap a picture with a Morgan Stanley themed geofilter.

"We're always looking for new and innovative ways to reach today's best talent on campuses around the country," said Lisa Manganello, head of integrated brand marketing at Morgan Stanley, said in an email to Business Insider. "We have to be where they are, and they're on Snapchat."

Snapchat geofilters let you put artwork, company logos, and other designs over messages in the app. But they only appear in certain locations and, in some instances, are only visible for a specific period of time.

The investment bank has been experimenting with the social media app, which is a favorite among millennials, but this is the first campaign of its kind for the firm. The bank also has a number of ongoing recruiting strategies taking place throughout the year on many more campuses.

Morgan Stanley was the lead underwriter of the initial public offering of Snap Inc, the parent company of Snapchat. The bank, which was bullish on the company's stock after it joined the public markets, later downgraded the company to a neutral and lowered its price target by 42% to $16. The stock is currently trading at $15.

JPMorgan rolled out a similar campaign in 2016. The bank honored college graduates at 80 college campuses with a 10 second advertisement on the app to help recruit them as employees.

And back in 2015, Goldman Sachs posted videos to Snapchat's Campus Stories platform .

Get the latest Snap stock price here.

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