Hey guys, so I've been a business manager (associate level) at a BB bank for about a year now, I don't mind the role and find it challenging enough, but find myself missing quite a bit of that external client exposure I had before coming in seat. I do have frequent internal stakeholder exposure and conversations which is great, especially with those at a higher-level (ED/MD).
Just looking for some general advice on where it may be best to pivot maybe in another year or so with a decent understanding of general financials, and 2.5+ years now of customer/client service experience. My initial thoughts would be potentially in the AWM space perhaps, but unsure.
Any help is greatly appreciate and happy to provide more context as well.
Cheers
Based on the most helpful WSO content, your background as a business manager at a BB bank with internal stakeholder exposure and prior client-facing experience positions you well for several potential career pivots. Here are some tailored suggestions:
Asset and Wealth Management (AWM): Your client service experience and understanding of financials align well with roles in AWM. You could explore positions like Relationship Manager or Client Advisor, where you can leverage your client-facing skills while managing portfolios for HNW/UHNW clients. This path offers a mix of client interaction and financial strategy.
Private Wealth Management (PWM): PWM roles often require strong interpersonal skills and the ability to build and maintain relationships with wealthy clients. Your exposure to senior stakeholders (ED/MD) could be a great asset in networking and building a book of business.
Corporate Banking or Commercial Banking: If you miss external client exposure, transitioning into a Relationship Manager role in corporate or commercial banking could be a good fit. These roles involve working closely with clients on lending, financing, and other banking solutions.
Investment Management Support Roles: If you're interested in the investment side but don't want to build a book, consider roles like Product Specialist or Wholesaler. These positions involve supporting investment managers and building relationships with advisors, which can be lucrative and client-focused.
Internal Strategy or Chief of Staff Roles: If you enjoy working with senior stakeholders and internal strategy, you could aim for Chief of Staff or Strategy roles within the bank. These positions often lead to broader leadership opportunities.
MBA or Advanced Education: If you're considering a significant pivot, pursuing an MBA could open doors to roles in Investment Banking, Private Equity, or Venture Capital. It would also enhance your network and career trajectory.
Ultimately, your next step should align with your long-term career goals and interests. If you’re leaning toward AWM or PWM, start networking within those divisions, seek informational interviews, and consider certifications like the CFA or CFP to strengthen your profile.
Sources: Private Wealth Management/Private Banking Guide for Associates, Fork in the road: Career path in Asset Management, Moving from Asset Management into IB / PE, Confused about my career..., https://www.wallstreetoasis.com/forum/asset-management/could-use-some-insight-on-careers-in-asset-management?customgpt=1
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