Bank of Bermuda has introduced a new holiday employment programme for Bermuda's top senior school graduates.

This new student recruitment initiative is being introduced against the backdrop of ongoing redundancies within the Bank of Bermuda since it was purchased by multinational banking group HSBC plc last February.

The Recruit Extraordinary People (REP) programme offers holiday employment to top graduates from each of Bermuda's senior schools.

Twenty-two students were offered the opportunity to work at the bank during their summer and Christmas breaks.

In announcing the initiative, which will run from this Christmas through December 2006, the bank indicated that being part of the HSBC group would enable them to bring even greater benefits to the students participating in the programme.

Philip Butterfield, CEO, Bank of Bermuda said: " As part of the HSBC family, Bank of Bermuda offers many diverse global career opportunities for young Bermudians.

In support of these scholastic high achievers and their quest for academic excellence, we offer them the opportunity to explore the numerous career options available in the financial services industry."

The students who have been invited to participate in the REP programme are: Rowan Hallett

Lianna Samuels and Paula Finsness from the Bermuda High School; Bermuda Institute students Keira Hill, Kimberlee Allers and Tamae Campbell; Shanna King and Melvin Martin from Bridging the Gap Academy; Chardala Simons, Alaina Nelson and Melissa Clarke from Cedarbridge Academy; David Amaro and Eileen Walsh from Mount Saint Agnes Academy; Richard Hillen, Stephan Kenny and Amanda Oliver from Saltus Grammar School; Taneisha Brangman, Ebony Fray and Nichole Shaw from Berkley Institute; and Alexus Haynes, Vanessa Smith and Romari Tucker from Warwick Academy.

"These outstanding students have the potential to bring enthusiasm and fresh innovative ideas to our organisation and we look forward to having them work with us in building successful, long term relationships," added Mr. Butterfield.

The students will join the bank as it continues to streamline its operations and manage growth efficiently with a smaller workforce.

The employee headcount at the time of the HSBC purchase stood at 1,100, and the bank's management was projecting that staff levels would be maintained at that level taking into account planned redundancies, attrition and anticipated business growth.

However, there are currently 1,051 staff at the bank, already 50 fewer than predicted for the end of 2004.

The first round of post-HSBC buyout staff layoffs were announced in April, as part of a plan to cut 250 jobs over three years, when 51 Bermuda-based employees were made redundant, as well as a further 20 in branches overseas.