The new initiative is supported by a study, Pathways to Banking, by the Boston Consulting Group (BCG) for the Trust, published today, of 500 leaders and 1,800 new recruits in the financial services. The research found that over half of the leaders in financial services were independently educated, compared with 7% of the school population.
The initiative will improve social mobility by giving young people the training and support they need to realise their potential. The report recommends a framework of activities, focusing on an early start and providing on-going support, which will ensure young people from low and middle income backgrounds are informed about the range of jobs available to them in the sector.
Colin Grassie, UK CEO and member of the Group Executive Committee, in support of the initiative said, "Enabling young talent has long been part of Deutsche Bank’s global corporate citizenship strategy. As a leading global universal bank we recognise the importance of diversity in achieving commercial success, and helping young people achieve true social mobility is one of our key aims, as evidenced by our new youth engagement programme, Born to Be. We are delighted to be part of an initiative that opens up opportunities for young people from less privileged backgrounds to become the next generation banking professionals."
Deutsche Bank will work with the Sutton Trust to identify further opportunities to connect its existing youth talent recruitment programmes focused on this cohort to its Born to Be youth engagement programme providing an end to end solution for raising aspirations, skills development and access opportunities.
Click here to download the report.