GoKawiil
Tech News
Citi is shortening its investment banking analyst program from three years to two, speeding up the path from analyst to associate. Co-head of North America investment banking David Friedland said the change aligns Citi with promotion timelines at some rival banks and comes as private equity firms increasingly recruit junior bankers early in their careers.
Entrepreneur contributors argue that in today's tighter, more expensive financing environment, buyers and lenders are shifting focus away from EBITDA and toward how much actual cash a business generates. While EBITDA remains useful for gauging operating performance, it excludes real costs like working capital needs and capital expenditures that determine whether cash truly reaches the bank account.
Chris Churchman, who runs Goldman Sachs' Marquee platform, said on the firm's Exchanges podcast that heavy reliance on AI models could erode bankers' ability to reason independently. He compared the risk to how GPS and digital tools already weakened people's navigation and memory skills, warning that delegating analysis to algorithms could similarly dull financial judgment.