Skip to content 
Search

Latest Stories

Goldman opens trading floor for students to promote social mobility

Goldman opens trading floor for students to promote social mobility

GOLDMAN SACHS has teamed up with Queen Mary University of London to train apprentices directly on its trading floor to boost social diversity in the financial sector.

Expected to start in September next year, the programme provides students with paid on-the-job training with study over four years.


It offers students a chance to gain hands-on experience in a sector still struggling to attract candidates from less-affluent backgrounds, a Guardian report said.

While the scheme, believed to be the first of its kind in the UK, is open to students of all educational backgrounds, its focus will be on candidates from state education.

In addition to salaries, selected candidates will also be eligible for a bonus from the American investment bank and financial services company.

It will pay for relocation and books and laptops of the trainees, who will also study at Queen Mary’s school of economics and finance for two one-week “teaching sprints” per semester.

The scheme comes after a KPMG study in 2019 found that 41 per cent of people working in finance had their parents in the same sector, raising concerns about a lack of access to top-level roles for less-privileged people.

Goldman’s managing director in global markets, Daniel Freckleton, said the industry was not doing enough to attract students from diverse socioeconomic backgrounds.

“There is, of course, an interplay between socio-economic background and ethnic minorities, so working to improve social mobility in our recruitment process is likely to have knock-on benefits to our racial diversity too,” Freckleton, who is the main sponsor of the apprenticeship scheme, told the newspaper.

“We want to attract the brightest and best students from as diverse a talent pool as possible – that’s a diversity of socio-economic background as much as anything else.

“Unfortunately, we’re currently missing out on a lot of this talent, either because students are put off by the traditional recruitment process, the financial barriers of university study, or simply because they are not aware of the kinds of jobs that Goldman has to offer them,” he said.

More For You

modi-trump-getty
Modi shakes hands with Trump before a meeting at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Indian exporters watch closely as Trump says trade deal with India likely

THE US could reach a trade deal with India that would help American companies compete more easily in the Indian market and reduce tariff rates, President Donald Trump said on Tuesday. However, he cast doubt on a similar deal with Japan.

Speaking to reporters on Air Force One, Trump said he believed India was ready to lower trade barriers, potentially paving the way for an agreement that would avoid the 26 per cent tariff rate he had announced on April 2 and paused until July 9.

Keep ReadingShow less
Kolhapuri sandal sales surge in India post Prada controversy

Customers shop for 'Kolhapuri' sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. REUTERS/Adnan Abidi

Kolhapuri sandal sales surge in India post Prada controversy

INDIAN footwear sellers and artisans are tapping into nationalist pride stoked by the Prada 'sandal scandal' in a bid to boost sales of ethnic slippers with history dating back to the 12th century, raising hopes of reviving a struggling craft.

Sales are surging over the past week for the 'Kolhapuri' sandals that have garnered global attention after Prada sparked a controversy by showcasing similar designs in Milan, without initially crediting the footwear's origins.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy grew 0.7 per cent in Q1 2025, fastest in a year

THE UK economy expanded at its fastest pace in a year during the first quarter of 2025, driven by a rise in home purchases ahead of a tax deadline and higher manufacturing output before the introduction of new US import tariffs.

Gross domestic product rose by 0.7 per cent in the January-to-March period, the Office for National Statistics (ONS) said, confirming its earlier estimate. This was the strongest quarterly growth since the first quarter of 2024.

Keep ReadingShow less
modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Key issues in India, US trade talks

TRADE talks between India and the US have hit a roadblock over disagreements on duties for auto components, steel and farm goods, Indian government sources said to Reuters, dashing hopes of reaching an interim deal ahead of president Donald Trump's July 9 deadline to impose reciprocal tariffs.

Here are the key issues at play:

Keep ReadingShow less
Anil Agarwal

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt. (Photo credit: Getty Images)

Getty Images

Anil Agarwal’s Vedanta Resources signs £438 million refinancing deal

VEDANTA LTD said on Thursday that its parent company, Vedanta Resources, has signed a loan facility agreement worth up to £438 million with international banks to refinance existing debt.

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

Keep ReadingShow less