Banks narrowing recruitment search, claims

The credit crunch is leading to investment banks narrowing their graduate job recruitment to a small number of universities, it has been reported.

According to The Financial Times, campus Careers Officers have claimed that banks which previously recruited from the Russell Group of 20 universities may have narrowed down the pool to just one institution.

Gordon Chesterman, Director of Cambridge University Careers Service, said there is now more gathering than hunting among UK banks.

Meanwhile, Jonathan Black, Director of Oxford University Careers Service, commented: 'There are banks that show up because the booking's already paid for, or because you need to be seen on campus, to retain brand awareness for the longer term.'

In related news, the Chancellor of the Exchequer Alistair Darling has denied reports that the government is planning to inject more capital into British banks.

Previously, the government said it would pump £37 billion into Royal Bank of Scotland, HBOS and Lloyds TSB.