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Is this U.S. Trust? or Merrill Lynch Wealth Management?
It's within BAML's Global Wealth and Investment Management group. US Trust is also within GWIM but it's for lower net worth clients.
whats the position?
It's an entry level position.
Thanks for any insight in advance.
problem is there are many different entry level positions.
Analyst
yes..in what area? in an office, in their product area etc... you can keep it vague. are you working with a team? or for the "firm"
LAWM & Lloyd,
Hope you don't mind me jumping in on this thread, but I have basically the same question. BofA ML private banking as an analyst within the product team for HNW individuals. What the impression/general regard about this sort of position and industry? Additionally, if you could give some info about the difference in general regard between a product team and working as an analyst in a team for a private banker.
Thanks.
I would say a private banking/PWM role is not generally regarded as the most cutting edge position on the street, however that said it can be a really sweet gig. Your quality of life (as judged by hours worked) is a lot better than the majority of other positions on the street. The scalability of your client base is what makes it worthwhile in the end. Because it is a fee based business you eat what you kill and once you have a large # of assets under your management it represents a great annuity and more consistent form of income when compared with trading or other more high energy roles. If you can enter as part of a team with senior managers it is often a good way to learn and when those managers retire if you have done it right their clients should become your clients.... Just my thoughts....
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