The company funds the degree for about eight employees a year, which helps those on the executive track feel rewarded, says Carol Pledger, a managing director at Goldman Sachs.

WSJ: And the Best Executive M.B.A. Programs In 2008 Are...

It is almost impossible to get hired for an executive-track position at any other time of year, or any later in life.

ECONOMIST: The perils of a frigid labour market

The task of ensuring they do will fall mainly to Mr Corcostegui, the new chief executive, whose track record is good.

ECONOMIST: Spanish banks