Top foreign banks are back in IIM-A

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Ahmedabad: After a year of dull placement season during 2008, students of business schools can cheer up now as the summer placement process for 2009-2011 batch at the Indian Institute of Management, Ahmedabad (IIM-A) has kicked off on an optimistic note.

The premier institute said the students of post graduate programme (PGP) and PGP-AgriBusiness Management have been placed in companies across various sectors where they will get a first hand experience of business management in their preferred domain.

“Day zero of the summer placement process saw enthusiastic response from our regular partners from the fields of investment banking and consulting,” said Himanshu Nema, secretary, placement cell.

Summer internships are mandatory and students will spend eight to 10 weeks in these companies during April-May next year.

In line with expectations, investment banks made their presence felt. Goldman Sachs, Morgan Stanley and Barclays each saw over five acceptances.

A senior manager at Royal Bank of Scotland, which hired more than 10 summer interns in investment banking profiles in Hong Kong, Singapore, New Delhi and London said, “I am happy to come here. The students were well prepared and looked excited about the opportunity to work at the Royal Bank of Scotland. We hope the international experience provided by an internship at RBS helps them ahead in their careers.” Some of the other investment banks include JP Morgan, Nomura, HSBC, Deutsche Bank and Citigroup.

“A day that began with great apprehension for the first year students gradually brought relief and cheer to students as they found that placements had indeed started on expected lines, with regular partners back to recruit and some new firms to choose from”, said a source associated with placements at the institute.

Top consulting firms have participated in the campus interview for the summer internship. McKinsey and Co, The Boston Consulting Group and Bain and Co each will have three and five students joining them for summer internships in April next year.