Equity Research roles in Private Banks

Have anyone heard of buy-side equity research roles at the private banking (or private wealth management) divisions of major BBs? What do you think of it? Is this is good career path or would one be better off in a traditional asset management house?

 

Private banking would mean you were doing research for the benefit of retail investors. Not a good career move. If you're not serving the large institutional investors, your outta the game. Even if these are "actively managed" funds, they are most likely conservative, and therefore operate on more of a buy and hold model. Not alot of opportunity to build research expertise. Traditional route is sell-side associate/analyst to buyside mutual fund/investment counselor. Stay with that.

 

Thanks for the reply. Private Banking's cliental base will be the family offices, small funds and high-net worth clients. So the job will entask making buy/sell recommendations on stocks and markets. The research process is the same as those in fund houses, the usual modeling and due diligence work. On one hand, yes, the research is perceived as more 'diluted' since it is not catered for the large instititional clients. But the upside is that rather than working in a relatively 'unknown' partnership-based institutional fund/hedge fund, such a role is at the least done at a large global platform since private banks are typically a division of the BBs. So there is an element of 'brand-name' there. Any views?

 

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