I have recently received two offers for this Summer, one at PIMCO as an Account Analyst in Singapore and the other at Citi Private Bank in Hong Kong. I was wondering if anyone could provide some insights on the career paths and exit opportunities for both and compare AM Sales and PB as a whole. Any comments would be much appreciated
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Both paths are client facing and revenue generating. That's good as revenue generators are particularly important stakeholders to any organization. The big difference between the two is the audience. The PIMCO track is sales distribution (financial intermediary) or Institutional. PB has a direct relationship with the end user investor, in this case HNW / UHNW. One is not better than the other, just different.
I actually am in both camps as I run my own book (personal clients), and wholesale financial products to FAs (distribution). Both require sales and relationship mgmt skills. Both require market and economic knowledge. PB requires knowledge in other areas like banking, trusts, taxation - although PIMCO deals with PBs and massive RIAs so they likely have to know about that stuff to foster better relationships and understand their client.
Don't know if various global locations treat these positions differently or if the definition of the position differs per region of the world. My comments are based on US business.
Thanks so much for the response. So essentially the roles are pretty similar just one faces individuals while the other faces intermediaries. In terms of career path, I was wondering if you had some insight to what that looks like?
Both roles are similar but PIMPco name is unparalleled
I'm curious what makes PIMCO's name "better" than that of Citi. Being in AM sales, would that be different than a traditional Product/Investment role in terms of future career?
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