Why you must join…
* Big bank comfort: good base salary and benefits; in-house specialists; fabulous office in core Central; in-house Cayman SPC can be used to launch funds for one or multiple clients
* Small-bank meritocracy: formula-based bonus, fully paid in cash; nice titles; fast approvals on everything; no team head, no market head, no hierarchy
* EAM flexibility: 10+ private banks to choose from; full pricing freedom; AUM and transaction deals are equally welcome; you don't have to be in office!
If you want to know more, read on…
The life of a private banker, as we all know, has a lot of pains.
At a big global private bank, the politics can be crushing. Account opening is grindingly slow, hurting your relationship with clients.
Also, why do you have to sell the in-house funds or DPMs, as you are not yet convinced.
Additionally, you have a pricing grid to conform to, and every credit application is a nightmare.
The most funny part is the bonus. You have no control. You are taken for granted. You are told your clients trust you because of the bank's brand. When the bank is fined in Europe, your bonus is gone. Weird.
And, when there is a billionaire who wants to bank with you, 5 people raise their hands to claim they knew this client before you did. Your market head could become your enemy. Seriously?
At a small, pure-play private bank, are things better? Maybe.
Your clients struggle to pronounce the bank's name, and you struggle to find a good fixed income specialist to talk to.
Yes, there is a bonus formula, giving your a sense of control. But come on...how much AUM can you move to the small bank from your previous big bank?
And the culture is clannish. Some bankers have known the bank’s owner family since 1993, and they are buddy buddies. You are an outsider. You cannot call the Asia CEO at night to get a credit approval as they do. You have to wait. And the credit book is small, by the way.
That's not all. A pure play private bank tends to change its mind, without telling you. The bank may want to close Asia, or shut the booking system, or hire someone from a big bank to be the Asia head, with cascading impact. Worst of all, the bank could be sold. Oops.
Fine. I am fed up. I move to an EAM. Everything should be great!
True, if you don't mind some inconveniences.
Like the EAM’s office is a bit hard to find.
You tell you client to hail a taxi for a certain back street in a shabby neighborhood, then walk to a dingy office block next to a night club, and take a stuffy and old lift, before he reaches your tiny office, which doesn't have a reception desk, but is next to a Fengshui consultancy.
The client is not impressed, whatever thousand year succession plan you are ready to pitch.
That's nothing, compared with the inconvenience that you do not get a base salary.
60% payout, 70% payout, so what. You still want the base salary, as a recognition, a nice certainty, and a supporting doc for your mortgage application.
Gosh…why can't I have the big bank security, small bank bonus formula, and the utter freedom of an EAM, all rolled into one.
We have figured it out and got it ready.
We are one of the leading financial services groups in Asia and we have built up the first institutional-grade multi-family office. Not for your clients, who are your problem. But for you, our partner and friend.
You don't have to send us your CV, if you are not comfortable to do so yet. You just leave your contact number and surname by an email. Our HR manager will call you to set up a coffee chat with our CEO.
Maybe you have 1bn, maybe you have 100mil. It doesn't matter. We structured our platform to make you feel at home.
Allow us to pitch to you.
Our email: firstname.lastname@example.org