As Troops Come Home, Wall Street Looks to Hire


"There is a great pool of talent that needs to be tapped. The very qualities that I brought to Goldman Sachs are the same qualities firms across Wall Street are seeking. These are skills the military has already instilled in the men and women who serve -- this is what we are taught from the very beginning."

Fehrenbach said that besides from being good business strategy, it's a moral imperative.

"We live in the safety and security after 9/11, and we've had it for some time, in large part due to men and women fighting overseas," said Fehrenbach, who comes from a military family.

Fehrenbach said the idea for Veterans on Wall Street first came about when Gen. John Abizaid, former CENTCOM commander, spoke at an equity conference in Manhattan. Abizaid appealed to CEOs present to hire veterans. "You won't regret it, and this group really needs your help," Fehrenbach recalls him saying.

Fehrenbach said Deutsche Bank then examined what initiatives existed to hire vets, and couldn't find any.

"We embarked on a multi-month, fact-finding mission," he said, on what the bank could do to hire more veterans at the bank, or at the various assets they owned...there is a large gamut of jobs that they can fill."

"You look at vets coming back from Iraq and Afghanistan -- the leadership, the discipline that they have, the risk that they've assessed, it's a natural very symbiotic thing, for us it's a win-win," Fehrenbach said.

Speaking at the conference will be retired Gen. Stanley McChrystal, who was tapped earlier this year by the Obama administration to lead an initiative on military families, as well as Sen. Chuck Hagel, a Vietnam veteran and purple heart recipient.

Fehrenbach said normally banks compete against one another, instead of working together.

"It's very hard for us to be friendly -- it's not easy to put all the banks in the room," he said. But he said they've all stepped up, to help those who have stepped up to serve the nation.

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