PE recruiting on pause — Wells CEO's history of hiring — Accenture's outlook
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Dan DeFrancesco
Sep 25, 2020, 22:06 IST
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New US jobless claims are back on the rise again. The latest report (870,000) was above the consensus economist estimate (840,000). However, the aggregate sum of Americans receiving unemployment benefits is still down from the previous period.
Recruiting in private equity has gotten aggressive. In recent years, young analysts at investment banks would only have been on the job for a few weeks before PE recruiters came calling.
This year, however, is different. With so much up in the air, headhunters and private-equity firms have called a cease fire, so to speak, on going after young talent.
I've talked a lot about the comments from Charlie Scharf, Wells Fargo's CEO, on recruiting and hiring Black talent. Here's a great analysis piece from Rebecca Ungarino detailing how since Scharf arrived at Wells in October 2019 he has had a chance to reshape senior management, filling eight executive positions during his tenure. In the end, the majority of new hires to his senior leadership team have been white men he worked with at JPMorgan. Read the entire story here.
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People are calling for a boycott of Wells Fargo after CEO blames 'very limited pool of Black talent' for the bank's trouble hitting its diverse hiring goals