Macquarie teams up with INSEAD

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Macquarie Bank has enlisted the services of a top business school to help it attract and retain staff.

Australian website theage.com.au says the country's top investment bank is collaborating with French business school INSEAD to offer a tailored Masters in Finance degree to its employees. As long as they pass, their fees will be paid by the bank.

Nicholas Moore, Macquarie Bank's head of investment banking, is quoted as saying he hopes the course will form "another reason" for people to work there.

Last year theage says Macquarie received about 70,000 CVs from job applicants.

Macquarie is not alone in sponsoring people to attend business school. Banks such as Morgan Stanley have supported staff through MBAs on an ad-hoc basis, while Merrill Lynch offers up-and-coming employees the opportunity to participate in a distance learning programme designed by the MIT's Sloan school of management.

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