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Banks enlist ex-military personnel as recruits for civvy street

From the forces to financial services is a well-trodden path. However, over the past few years, banks such as JPMorgan, Morgan Stanley, Citi and Goldman Sachs have been increasing the number of people they hire from the army, navy, air force and marines.

They are formalising the selection process in the belief that skills such as leadership, teamwork and problem-solving cultivated in the armed forces could be put to good use in a bank.

This comes as British forces are ending their combat operations in Afghanistan amid UK budget cuts. Defence secretary Philip Hammond last year agreed savings of 1.9 per cent after 2015, triggering warnings that the armed forces had become overstretched.

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