UK
Sector: Private Banking / Wealth Management
Tough times: investment bankers are switching to wealth management
In 2009, when investment banks were making thousands of redundancies, wealth management was considered something of a sanctuary from the cuts. We’re not quite back to those bleak times, but in the wake of heavy job cuts, more people are now considering the switch. Both Credit Suisse and UBS have unveiled plans for extensive job [...]
Are there too many old white men working in UK private banking?
As a sector, private banking isn’t really considered a bastion of diversity. Not only is there a still relatively small proportion of women, but UK wealth management is, according to some recruiters, littered with too many fusty, old, white, upper class men. If you’re a relationship manager in wealth management it helps to be able [...]
GUEST COMMENT: I’ve worked at Deutsche Bank and Goldman Sachs. Now I run a bar. I have no regrets
Singaporean Colin Tay went from banking to beers when he left the financial industry after nine years. Formerly from Deutsche Bank, he now runs two businesses with a partner: Old Empire, a gastro bar, and TSA Wines, a beer and wine distribution company. He speaks to eFinancialCareers about his decision to give up the corporate [...]
POSITIVE NEWS: The UK government is providing an enormous boost to some broking jobs
You could be forgiven for noticing it given the other events of the moment, but last week stockbroker WH Ireland announced its first interim profit for four years, along with a 30% increase in its revenues. WH Ireland is not a big bank. Even after the increase, its revenues were still only 11m. But it [...]
A Q&A about the Embark Programme at Barclays Wealth, for people who want to move into wealth management from other areas
Tom Baker, head of resourcing at Barclays Wealth, granted us the interview below about Barclays’ Embark Programme, designed especially for people without a financial services background who want to break into wealth management mid-career. This is what we asked. This is what Tom told us. So, what is the Embark Programme exactly? Tom: The Embark [...]
Lunchtime Links: If you interview at UBS wealth management in London, you only have a 6% chance of being offered a job
Is worth attending an interview when your chance of getting an offer is lower than 10%? Today, Reuters has an article today suggesting it’s not as easy to get a private banking job as some people suggest. As oligarchs proliferate, Reuters claims banks are moving some of their “best talent” into private banking. Entry requirements [...]
Geneva is also a mecca for UK private bankers
It’s not just commodities traders and hedge fund managers being lured to Geneva – increasing numbers private bankers are taking roles serving UK clients from the Swiss city. The trend was highlighted by Barclays in its investor day presentation yesterday, when it said that one of the key focuses for its wealth division was to [...]
GUEST COMMENT: The CFA is becoming the quality standard for private bankers
An increasing number of private bankers are taking the CFA. In 2009, 11% of all charterholders worked as private client wealth managers/advisors. We see more and more private bankers taking the CFA for the following reasons: 1) Regulation After the events of the past 3 years, it’s fairly safe to say that regulators will expect [...]
Generally, it’s not very easy for UK private bankers to move to Asia
Surely, by now most UK private bankers are viewing Asia as the promised land? With more and more banks rolling out huge hiring sprees in a bid to increase assets under management in the region, hopping on the first plane to Singapore or Hong Kong seems like a no-brainer. Unfortunately, it’s not that simple. The [...]
There is an unnoticed hiring spree in wealth management
While much of the focus has been on the Asian private banking hiring spree (and the new-found appetite to recruit European candidates), the UK market has also been quietly booming. In the last week alone, Deutsche Bank has unveiled six new hires for its UK wealth management business, Brewin Dolphin has lifted a seven-strong investment [...]
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