Reputable Private Banks? + Questions for Canadians
I was wondering if someone could provide me with a list of the most reputable private banks in the US and in Canada?
I have been doing a lot of research, but am having a hard time differentiating between something like JP Morgan PB and Goldman Sachs PWM. Ultimately, I want to be going into the PB industry and not so much the PWM one.
The ones I currently know of are JP Morgan PB, Credit Suisse PB, GS PWM?, Citi Private Bank, BMO Harris Bank.
I'm a student from Vancouver (born and raised) and I heard that is very difficult for a Canadian to get a internship/job in the states. Can anyone attest to that and maybe elaborate on it? Also what kind of GPA is required for PB internships at the top shops? My first year GPA was around a 3, whereas my second year GPA is a 3.85-3.9. Any advice is appreciated.
PB/PWM are pretty much the same thing. PB usually is referring to UNHW individuals (10M assets, some banks 25M) where as PWM is usually HNW individuals (1M or 5M depending on the bank, and up). Getting an internship in PWM at a BB is definitely easier than IB, but still no cake walk. You still need to have good grades, and 90% of getting hired is if you are a good personality fit.
It is more of a sales/client relationship job, so grades matter, but make sure you can talk with the interviewers and sell yourself as a person.
RBC is huge. Are you going to an American school or Canadian?
When you say you want to go into PB and not PWM, what are your reasons? How do you interpret the differences between the two?
I'm in PB as an intern right now. PM me if you have any questions
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