This well known, long established European top tier private bank is looking to hire an Experienced Private Banker to work from its Luxembourg private banking center.
The Experienced Private Banker has emerged from the banks desire to increase its market penetration amongst the first / second generation wealthy individuals or families
in the main Eurozone region. Up to know the banks reputation and extensive network of other private banks and wealth managers has grown the assets under management. The bank would like to appoint a skilled entrepreneurial banker to manage the top segment of their client base and grow the AUM and number of new clients over a sustained three to five period. To help the Experienced Private Banker achieve that bank will place considerable resources behind them and the senior management team has bought into the opportunity. The bank has also spent the previous 18 months building what it considers one of the most sophisticated product offerings and revamped its marketing and brand image. All in preparation for this push!
As a strategic appointment into a priority market the bank has a clearly defined set of key targets in mind. The role is based around increasing the AUM and number of clients of the bank, whilst providing a quality private banking to a select portfolio of the banks clients. The bank realistically expects the Experienced Private Banker to create a book of
clients to around the $35 million / €28 million
mark in the first year to eighteen months.
Here is a full breakdown of the responsibilities of the Experienced Private Banker role:
- Quickly establishing rapport with your clients and potential ones, you will capable of thoroughly understanding their investment requirements and conduct a full analysis on their wealth, assets and propensity to risk. Based on that the Experienced Private Banker will work internally with the portfolio managers, compliance professionals and legal to create a tailored investment offering based on the banks own products and third party offerings.
- Once a trustworthy relationship has been established the Experienced Private Banker will always seek to find further cross selling opportunities for the banks services and keep the client abreast of all developments concerning their portfolio and the bank. As and where directed by the customer or the bank the Experienced Private Banker will liaise with external partners, service providers, regulators or legal professionals.
- Internally the Experienced Private Banker will represent his clients and supervise, co-ordinate all the resource required to deliver a truly over performing investment / wealth management service. This will involve working closely with, and developing relationships with, asset management, credit, legal and tax teams at the bank.
- The Experienced Private Banker will exploit the banks existing network in the wealth management industry to help him / her meet her targets.
- To increase new client acquisition they will focus on strategic targets, agreed in concert with the senior management team and draw up a executable plan to secure that specific potential client. As part of this they will also compile and investment proposals and supervise the creation of all marketing collateral. The Experienced Private Banker will lead all new business activity and assemble the virtual teams required based on their own assessment of the resource required for success.
- Execute all the clients private banking requests and requirements. Take ownership of the delivery of all private banking services to your clients.
- Create real customer satisfaction amongst your clients via offering a personal and attention at all times.
- At all times maximize the retention and acquisition of new customers.
- Help design and create tailor-made portfolio management contracts and documentation based on your assessment of their investment requirements, desires and wants.
- In a constructive fashion seek to improve the banks private banking offering by challenging and highlighting any in-effective processes. Make professional suggestions on how to correct these based on your extensive banking experience.
The bank knows the caliber of banker it wants to appoint and also the professional requirements it seeks. These are:
- A senior private banker with at least a decades previous experience in servicing Ultra High Net Worth Investors, delivering on growth targets and growing the overall AUM.
- A banker with great hunting abilities
. You should be able to provide a demonstrable and referenced record in both new client acquisition and transforming a large network into a real portfolio of investment clients.
- One with an existing client book would be most welcome.
- A degree in a numerate subject.
- Fluency in English and French.
Obviously the successful applicant to the Experienced Private Banker richly rewarded in line with the amount of business and AUM they create for the bank. The bonus is completely uncapped and the bank expects to sign a considerable bonus off for the post holder. The bank has built a solid reputation in staff retention and stability as it rewards, promotes and desires successful professionals to work for it. Its core values are impeccable and result from its founders own core principles.