A synopsis of the current Private Banking world
I specialise in the Private Banking space covering all front office functions in the recruitment of Senior Wealth Managers and Private Bankers across the SEA region.
I come from the Private Wealth Industry. I have close to 13 years of experience across Corporate and Private Banking (HSBC, Coutts & Credit Agricole) so I have a fair bit of insight into the challenges my clients and candidates face!
I have been in Singapore for the past 9 years and my previous experience in front office banking gives me the edge in servicing, advising and consulting my candidates and clients in the best way possible.
With the recent shift in rules and regulations across banks it is very important to know how your clients would be impacted should you make the move. Having a good rapport/ relationship with your hiring manager is equally if not more important than the name of the organisation itself. Your market being a purely candidate driven market gives you the luxury as well as opportunity to suss out which organisation is best for you and more importantly your clients. Cross border regulations as well as tax declarations have and will only make private banking a tougher business.
How much should you be getting paid?
However, I strongly believe that every tough situation presents itself with a golden opportunity. In this case hand holding your clients and keeping in constant touch with your clients will only strengthen and deepen your relationship and ensure that when markets pick up again you are the first person your client reaches out to!
Lately, there has been a lot of consolidation in the market with bigger banks buying the smaller banks. This has led to a lot of my clients asking me how they should position themselves in terms of attracting talent in what is already a very limited talent pool. My suggestion to them has been to think a bit out of the box and look at candidates from different backgrounds.
Looking for opportunities in Financial Services Front Office?
Candidates from Investment banking, corporate banking already have the relevant skill set as well as access to clientele which could benefit from what the private banking platform offers. These candidates already have an overall picture of the clients assets as well as legacy planning in most scenarios and I believe would be a good fit for the private banking space.
If you need any advice on how to plan your next move or are eager to learn what the latest market developments and movements are, do drop me an email email@example.com and we could schedule a chat.