Now this is an exciting opportunity for the right senior private banker. A international brokerage and asset management organisation is in the process of setting up a new private bank to operate in Zurich. To guide their setting up of a private banking operation they are looking to appoint a Director of Private Banking.
The company already has a well developed customer base with in excess of $1 bn AUM. This has come on the back of their operation of a global private Exchange that acts as a clearing network for institutions and Ultra High Net Worth individuals alike. The banks expertise in global transactions and private placements has resulted in a huge customer base amongst other investment banks â both onshore and offshore, pension funds, mutual funds, family offices & other private banks, insurance companies and private investors. The Exchange has been designed to revolutionize the management and trading of assets in the wealth management industry; by removing many of current issues around asset identification and fraud. It provides this service in an effortless manner and full conjunction with the clients existing systems (like Euroclear and SWIFT). They currently see the establishment of the Private Bank as way to complement the exchanges operation
and services and are looking to move beyond their Fixed Income / structured debt expertise and offer a full range of private banking services in a number of hand picked jurisdictions.
The group is now seeking to employ a Director of Private Banking to set up, oversee and set the strategic direction of the new Private Banks operation.
The successful applicant will be responsible for the setting up of the Private Bank, ensuring the smooth launch and ongoing success of the business according to a pre determined business plan (which they have written). The bank has a full intermediary channel with over two thousand signed up introducer's and massive experience in handling cross border transactions (usually in excess of $100m) involving structured instruments (commercial paper, bonds, short-/medium-term notes) and arranging project finance / private equity operations. They have for example arranged multi million dollar project funding; setting up the deals and structuring / underwriting these. They also write their own instruments and actively trade these with the customers of their Exchange. Your challenge as Director of Private Banking will be to leverage these activities / clients to build a successful private banking offering and service.
As Director of Private Banking you will formulate, implement and execute business strategies
for private banking and will be accountable for the profit and loss of the private banking arm, the sales achievement against the approved budget and the hiring of all client facing staff. In conjunction with Human Resources, you will help build up a competent work force and ensure that individuals are equipped with the required skills and knowledge in order to bring forth business targets and enhance market competitiveness.
The bank is keen to appoint the very best banker to this vacancy and as such it is expected that all applicants will have a minimum of 10 years private banking experience. Combined with that they are looking for applications from bankers with:
- The ability to advise the banks most senior clients about how to manage their overall investment portfolio.
- Can develop and create new private banking client relationships.
- Can operate both advisory and discretionary mandates and also establish propensity to investment risk.
- The bank would welcome applications from bankers with previous experience in the setup and launching of new European based wealth management or banking entity.
- Have a great knowledge and skill set with regards to multi asset investing, particularly fixed income, corporate bonds and private equity bonds.
- Knowledge and experience in using SWIFT Services and Private Placements would be very beneficial as well.
- It expected the banker will hold a advanced / senior qualification like an MBA and have had formal Investment / Private Banking training.
This appointment is viewed as business critical and central to the success of the new Private Bank. the bank are determined to hire the top talent in the industry and this vacancy is seen as one only befitting the creme de la creme of banking. For such an individual the bank will craft a bespoke remuneration package.