We were wrong. Yesterday, we suggested – as per an article on Dealbreaker, that BAML was having second thoughts about training its EMEA summer analysts in New York this year. Apparently, they were to be trained in London instead, in order to save money.
We have now heard back from BAML and they assure us that people will be sent to New York as usual. Any reports to the contrary are incorrect.
We understand that rival US banks Goldman Sachs and JPMorgan will also still be sending their analysts to New York for as long as 7 weeks for their initial training.
“The New York training is a great perk,” said a spokesman at one bank. “It would put people off if we removed it.”