The job can be divided into three main areas, that is retaining customers, maintaining customer relationships and keeping abreast of the market in order to provide relevant advice.
New customers join us through various channels. Many come through the Bank’s branch network but others through recommendations from current customers, through personal connections and more. Initially, we perform a needs analysis for each customer. We present the benefits of portfolio management and our services and, if the customer likes what he or she hears and is ready to commit, an asset management agreement is concluded between the customer and the Bank.
Initiative is a requirement of the job - you have to pick up the phone and make unprompted calls to both potential and current customers. Both Asset Management and Private Banking have achieved good results in the past couple of years. We expect to continue this trend, as we enjoy success.
A large part of the job is maintaining your knowledge. The market is a living thing and everything turns on future expectations for returns based on economic indicators and key financials for individual companies. We attend several information meetings with, for example, brokers, domestic and international fund managers and in-house meetings. Following the news and adding to your own knowledge base is also important. Sourcing knowledge and information and communicating it to customers is an on-going process.
The main changes to Private Banking during my tenure involve the practical execution of asset management which has changed from portfolio management to fund management, which is simpler and more efficient. Another big change involves awareness and action about responsible investment that consider ESG factors. Asset management globally is quickly trending towards sustainability and responsible investment.”