PWS is particularly interested in making the right appointment at the right time for an individual`s career.
An example of sensible career modelling for a typical Private Banker building a track record around client relationship management, for instance, might look as follows:
Age Event Remarks
|25 – 30||Analyst/ Junior RM||Gain technical experience and acquire client book|
|30 – 35||RM role, Tier 1 or 2 bank||Develop client book|
Option point 1 – Preparing the main career phase
|35 – 40||Senior RM/ Team leader Tier 1 Bank||Grow client related business|
Option point 2 – Main career phase
|40 – 45||Regional Head Tier 1/2 Bank or continue growth of a significant client book||Maintain client contacts|
|45 – 50||Head of Private Banking Tier 1/2/3 or AI/MFO|
Option point 3 – Own practice, regional practice and commence capital creation plans/exit strategy
|50 – 55||CEO/Head of Private Tier 1/2 Banking for geographic operational area or own/investor backed platform|
Option point 4 – Retirement/consultancy
Clients relevant to bank or hedge fund/absolute return operation. This phase must realise a capital sum reflecting career achievement.
Obviously there are a variety of permutations, whilst life events will also impact on progression. The key aspect in our view is the achievement of capital creation and/or income maintenance.
This aspect is not the sole confine of the CEO or equity holder. Senior Relationship Managers who hold genuine demonstrable client accounts can trade these in on leaving full-time employment from the broad scale Tier 1-4 institutions.