Hua Er Jie Jian Wen·2025-07-21 20:05Group 1 - The core viewpoint of the article highlights the escalating talent war on Wall Street, with major investment banks like Citigroup, Goldman Sachs, JPMorgan, and Morgan Stanley implementing new policies to prevent junior analysts from accepting external job offers [1][2][3] - Citigroup has introduced a new requirement for junior analysts to disclose any external job offers, a move aimed at retaining talent amidst competition from private equity firms [1][2] - The tightening of regulations on junior employees by Citigroup is closely linked to its internal strategy to reshape its investment banking business under new leadership [2] Group 2 - The practice of requiring junior employees to disclose external job offers is becoming a standard operation among large investment banks on Wall Street [3] - Goldman Sachs requires new analysts to confirm every three months whether they have accepted external job offers, while JPMorgan has a stricter policy threatening termination for those accepting offers within 18 months [3] - Some private equity firms, like Apollo Global Management, have indicated they will reduce early recruitment activities in response to the collective pressure from investment banks [3]