Private Banking
Private Banking is a term for banking, investment and other financial services provided by banks to private individuals looking to utilise sizable assets. The term "private" refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisers.
Historically Private Banking has been viewed as very exclusive, only catering for high net worth individuals (HNW) with liquidity over a specified amount of money. An institution's private banking division will provide various services such as wealth management, savings, inheritance and tax planning for their clients. A high-level form of Private Banking, for the 'ultra HNW' or especially affluent is often referred to as wealth management.
The word "private" also alludes to the banks discretion and minimizing taxes via careful allocation of assets, often associated with 'offshore' accounts that may be used for this purpose.
We are constantly looking for enthusiastic and results-focussed individuals, preferably with experience to work in this challenging sector.
Clearly one of the defining skills required to succeed in Private Banking is the application of outstanding client service. Candidates should demonstrate the ability to build lasting relationships based upon the "high touch" quality of their service. It is common to be dealing with a portfolio of sensitive and specialised clients. The skill is often to be able to tailor unique solutions to fit specific individual requirements.
Our clients are currently looking for candidates to work in the following operational areas:
- Settlements
- Treasury e.g. Payments, FX and Money Markets
- Reconciliations
- Corporate Actions
- Income/Dividends
- Tax
- Private Client Administration/ Fund Administration/ Portfolio Administration
- Client Services
- Relationship Management
- Static Data
- Compliance/ Trustee Services
- Business Analysts / Project Managers
- IT Support