I was wondering if traders who work at private banks also engage in agency/flow trading or if they simply execute orders. The reason I am asking is because I have heard of some private banking offices having 20 - 30 traders and this seemed overkill for simply executing clients orders even if they are HNW. Also can they take positions using the firms money if they see an opportunity?
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Also I thought the private banking solutions team execute trades so that gets me wondering what traders at large private banking offices do exactly
it depends. they are not prop traders so they wont use the firms money to make bets, they might recommend stocks/bonds/strategies to their clients depending on the client. They mainly execute trades for clients, sell the firms IPOs. I'm on a pretty big team and we have 2 traders, one focussing on bonds, the other on stocks, but that is not the norm at all.
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