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BRUIN Financial Launch City Talent Initiative To Increase Diversity

BRUIN Financial Launch City Talent Initiative  To Increase Diversity

Ernst &Young, JP Morgan, RBS and Strutt & Parker first to sign up

Today sees the launch of the City Talent Initiative (CTI), an exciting new programme to support high-achieving young people from low-income backgrounds gain entry to leading City firms. 

The CTI programme was initiated by BRUIN Financial, a leading city head hunter, following a challenge from Labour MP, the Rt Hon David Lammy, on the barriers to entry for talented young people who lack access to a vast range of career opportunities, jobs in the City.  With little or no vital social capital, such as access to opportunities through connected friends and family, many of the best and brightest from British society miss out on opportunities.

In response, BRUIN Financial invited a number of prestigious firms to discuss a solution that the City could offer and, with the Social Mobility Foundation (SMF) as programme manager, CTI was born. 

As David Lammy says: “"This scheme will show that the financial services sector can be elite without being elitist.

 The City of London is rightly known as one of the best places in the world to do business. Those that work there have the chance to work for some of the world’s most dynamic companies, but that opportunity is one that lies beyond the reach of too many of our most talented and ambitious young people.

 This scheme will work with some of London’s brightest young people from backgrounds that do not traditionally go on to work in the City and convince them that this could be a career for them."

The launch partners for the CTI programme are Ernst & Young, JP Morgan, RBS and Strutt & Parker who will mentor the participating students and provide them with paid internships.

Robert Thesiger, CEO of BRUIN Financial, adds:  “We’re delighted that some of the biggest names in the City have come forward to open their doors and support our programme.  We welcome more companies to join CTI and demonstrate their commitment to building a dynamic, open and diverse workforce.”

In promoting CTI, David Lammy has gained cross party support from Mark Field MP (Cons) and Baroness Kramer (Lib Dem):  

 “Our most competitive sector will only become stronger if we encourage participation by our brightest graduates from a wide range of backgrounds. I am delighted that CTI has been created to guarantee the dynamism that will ensure the City’s continued success,” stated Mark Field MP.

Baroness Kramer commented, “When it comes to securing a job in a top City firm, social capital matters. By working directly with companies and schools, this scheme will help provide individuals with that initial link to an internship or job that many young people find hard to access.”

The statistics on child poverty and social mobility are stark.  Only 7% of the population have attended independent schools, but they account for 70% of high court judges and 54% of FTSE CEOs.

The odds of a child eligible for a free school meal at a state secondary school being admitted to Oxbridge by age 19 are almost 2000:1. For a privately educated child it is 20:1. Only one in five young people from the poorest families achieves five good GCSEs including English and Maths, compared to 75% from the richest families.

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