Mayor backs training scheme for young people
Thirteen British investment firms have committed to an initiative which will see young people trained and offered their first job in the city.
The project, Investment 2020, will offer a total of more than 100 newly-created 12 month paid trainee roles primarily to school leavers and recent graduates, regardless of background and education. Investment 2020 trainees will be given the opportunity to gain experience across all areas of business, including marketing, IT, infrastructure, operations and investment. At the end of the year the trainees will have the experience and business knowledge to seek a full time role, either within the Company they have been training with or another City firm.
Each of the firms will offer different programmes and by 2020, the ambition is that the scheme will offer at least 2,020 roles per year across the investment management industry and other financial service providers.
The Mayor of London, Boris Johnson, said: "This is an excellent scheme that will give hundreds of young people the chance to get their foot in the door at some of London's leading investment firms. By learning the ropes as Investment 2020 trainees they will get an invaluable chance to build their CVs and boost their long-term chances of securing top jobs in the City."
Investment 2020 is the brainchild of Henderson's chief executive, Andrew Formica who has been running the scheme at Henderson for the last three years. Over this time 95 per cent of its trainees have found full time roles. He has been supported by Nichola Pease, a member of one of the founding families of Barclays Bank, former Chief Executive of JO Hambro Capital Management and a Non-Executive Director of Schroders. Together they have helped craft the programme being launched today.
Pease said: "Like all industries, the investment industry needs to play its part in British society. All of us involved are firmly of the view that the investment industry has a collective responsibility to help tackle youth unemployment and the industry is at its best when it has meritocracy and inclusivity at its heart."