IE
Tag: Private banking
New signs of life in Irish wealth management recruitment
Despite Ireland’s economic woes, the amount of wealth in the country is still on the increase. While there are still examples of private banks cutting staff, a large number of firms remain open to hiring. There are were 19,000 high net worth individuals in Ireland at the end of 2010, which is a 5% uplift [...]
Ulster Bank is emerging as an active recruiter in Ireland
While most Irish banks are retracting, a decent amount of recruitment in Dublin is said to be coming from an unlikely source – Ulster Bank. With the European Commission approving plans for an orderly wind-down of Anglo Irish Bank and Irish Nationwide, and the domestic banking sector now reliant on the two ‘pillars’ of AIB [...]
Ireland’s wealth managers should look to work for a boutique
With Ireland’s traditional mainstay of large wealth managers languishing, smaller boutique players are benefitting and grabbing a larger slice of the market. Not surprisingly, they’re becoming increasingly desirable places to work. Brewin Dolphin’s decision to spend nearly €36m on acquiring Irish wealth manager, Tilman Asset Management has created a lot of headlines, not least because [...]
Ulster Bank high-net-worth sales force moves to servicing the man-on-the-street
In another indication of the dwindling demand for private banking services in Ireland, Ulster Bank Wealth has transferred its entire sales team across to its Financial Planning business. Ulster Bank Wealth is, rather obviously, targeted at high net worth individuals, an exclusive club whose membership swelled during the Celtic Tiger years. As part of the [...]
Anglo halves staff costs
Considering the fact that Anglo Irish Bank has just posted a pre-tax loss of €4.1bn for the last six-month period, it’s not surprisingly focusing on cost-cutting. Employee numbers are down (slightly), but with bonuses eliminated staff costs have more than halved. Anglo now employs 1,695 people across the group, which is down from 1,922 this [...]
Why are Ireland’s banks still hiring private bankers?
Either HSBC doesn’t listen to the news or it knows something about private wealth that Ireland’s central bank doesn’t. Just a week after the central bank warned growth will slow from 5.3% in 2007 to 2.5% in 2008, HSBC announced a new private bank in Eire. Rose Tormey, a portfolio manager at Goodbody’s Private Wealth, [...]
Private bankers go North
Is Northern Ireland the next hotspot for private banking hiring? A Northern Ireland recruiter tells us Barclays Wealth research has found an untapped market for private bankers to serve clients worth 2m or more. These potential clients are currently being served by “high end” IFAs and intermediaries. Barclays Wealth, which manages its Northern Ireland clients [...]
On the Spot: Sean O’Murchu, Bank of Ireland Private Banking
Sean O’Murchu, head of direct business, fields our questions and will answer yours if they tickle his fancy… A brief history of your career? I joined Bank of Ireland straight out of college in 1987 and went into various clerical roles. I studied an ACCA at night and the first real job I got was [...]
BoI to bite chunk out of private banking competitors
Bank of Ireland has set up a private banking division to poach business from its rivals, and is looking to expand the team. Seven senior private bankers have been recruited for the new Direct Business arm, which aims to hunt for rich folk disaffected by dodgy investment decisions. “In contrast to other private client businesses, [...]
Ireland’s wealth a magnet for private bankers
Barclays Capital popped up last year, Swiss firm Helvetia Wealth has already opened a Dublin office this year, Merrill Lynch has expanded, and Goldman Sachs is in talks to set up in Ireland – the US behemoth could create 500 jobs over three years through private banking, wholesale banking and capital markets functions. Conor Walsh, [...]
Follow eFinancialCareers
What is RSS?
Advice
