Credit Suisse shows no sign of slowing down as the rest of the world enters a slowdown. They are actively recruiting IT students, and trying hard to attract talent to thicken their ranks. One shouldn’t forget the lessons of Google as it began to monetize itself in the downturn of 2000. As numerous startups began to divest some of silicon valley’s best IT talent, Google swooped in to feast. The failure of the late 90’s startups provided Google with ample business models to critique (ie, adsense, the web portal, the search engine in general).
Credit Suisse, along with Goldman Sachs, seeks this kind of advantage. Though GS showed revenue drops around %70 this year, at least they continue to survive. And Credit Suisse has also prevailed in this market, where mere survival is reason to brag. The technology showdown between these two trading giants has shaped the market as it stands: one organization’s trading systems facing off with another’s. We are talking about computers doing optimized trading, and competing for optimal prices on the open market, 24/7.
The ongoing expanse of electronic, real-time automated trading is luring customers to their funds, and now these banking titans must lure the talent to keep up with their efforts to scale these programs. The rest of the economy can take notice, and take heed of the dictum that it’s wise to scale up your R&D and product development during the downturn. Intel and other technology organizations are up to the same…
We hope to help organizations of all sizes to participate in this kind of cherry-picking done by CS and GS. They look to campuses in NYC and Raleigh, NC to send their best students, on invitation, to view what kinds of opportunities lie within these banking giants. Now that the surviving powers on Wall Street are viewing themselves as fully fledged technology companies, they must press their case to students, lest they take a job with microsoft, google, or another tech entity.
Next Acropolis’ goal is to create the environment where small and medium size companies can actively court the same pool of students as any major multinational, and open up more opportunity to students through mentorship, internships and jobs.