private banking

I am a recent M7 MBA graduate who accepted an offer to be a Private Wealth Advisor (Starting as a PWM Associate) at Goldman Sachs Private Wealth Management (GS PWM). I worked in finance before business school and went to MBA to stay in finance to multiply my earning potential. I was attracted to GS...

31 Jan 2022

Once and for all - Here is the best guidebook I can give you for PWM/PB at the Associate level. Enjoy and show me some love... 1.1 What is Private Wealth Management? 1.2 Who is a High Net Worth Investor? 1.3 Industry Today 1.4 Career Paths within Private Wealth Management 1.5 How to Build a Book 1.6...

23 Mar 2019

Hey Everyone.. I have finally joined WSO after years of lurking... hoping some of you can help put me in the right direction. I started my career different. I saw so many friends go to university and graduate with a finance degree only to go work at some retail company making minimum wage. I didn't...

01 Jan 2019

There was a post talking about how JPM has their AM groups split into three types of people. The title of the post is "Private Wealth Management/Private Banking guide for associates". One of the types of people was a Private Banker: a person who "focuses on new business acquisition and on...

26 Aug 2020

Had received offer for Corporate Banking and Private Banking (combined) spring week at Barclays. They cancelled due to corona and will start fasttracking around June. They're first going to give us an online session to learn more about each division to help us decide which we want to be interviewed...

14 Apr 2020

Hello, I'm working in secondary private equity as a second year analyst on middle office team, doing investor reporting, preparing fundraising and marketing materials, and preparing presentations for senior management. I recently interviewed with JP Morgan Private Bank in Miami and they're extending...

06 Aug 2021

Hi everyone! :) I am a Spanish graduate student attending an Ivy League university in the US (think Wharton/Columbia/Yale) studying finance and economics. I know I want to work in the Buy Side but I am still unsure if I should do AM or PB. I appreciate work/life balance and I would like to work in...

26 Jan 2021

Hi everyone! I'm applying to summer internships next year and thought it might be useful for me and others to find out which divisions are the most difficult to get into. What do you think? The divisions (randomised) are... - Risk Management - Asset Management - Compliance - Private Banking/Wealth...

13 Mar 2021

Interested to receive some input on career path options. I have experience at an independent broker dealer working in operations and client facing roles, as well as business development and some derivatives trading for old school advisors. Also, I have worked for BB in back office. I have my FINRA...

19 Jan 2022

I have summer internship offers at both JPM and BlackRock, the roles are: JPM: Investment Solutions at J.P. Morgan Private Bank "Work with our teams to understand client needs and examine market activities to develop and execute strategies that help clients meet their financial goals Partner with...

20 Dec 2021

Hi, Does anyone have information about how much the total compensation throughout each of the analyst years at JPM Private Bank is (ideally in London)? Is there a bonus and how big is it? I read that the analyst program lasts three years in the private bank. What is the salary progression throughout...

30 Dec 2021

Will provide more details if helpful, but basically: * I'm a first-year undergraduate, and a little while ago my friend's dad told me he could try and get me a spring internship at a private bank. (Friend's dad does not do banking, just has friends that do.) * My CV was passed around a bit, and now...

07 Jan 2020

Hey y'all!! I wanted to ask about breaking out of management consulting in the financial services industry, and transitioning into a private wealth management/private banking role. Generally on my background: *Consulting sales experience *Solid network of HNW individuals *Speaks Mandarin and German...

13 Oct 2017

Hey guys- I am looking at banks with PB functions (so think MS/GS/Citi/Boutique PB) that also raise Private Equity funds. Would the PE fund be considered an investment manager from an operational standpoint? Investment Advisors in PB typically recommend asset allocation strategies to their clients,...

03 May 2016

Hello everyone! I just finished my superday last week and got an offer call this week. Have been hearing that JPM overhires summer analysts and the conversion rate to full-time analysts is low. I'm just wondering how accurate this statement is in the private banking division. Any thoughts would be...

27 Oct 2021

Hi all, Currently I'm a PB analyst (RM/Investment) in a Balance Sheet Bank, think (HSBC, BNP...) in Asia. I have worked almost a year and planning to move into IB/ER (prefer IB more). The main reasons are that the exit opportunities are limited and its technical side is too narrow. Background:...

28 Apr 2021

Has anyone attended a superday for Private Banking at JP Morgan? I have one coming up and would greatly appreciate any help. Questions asked? How many interviews? Which location? Overview of the Private Banking JPM Super Day Interview The interview will likely be 6 interviews. According to our...

19 May 2018

I just started my internship in corporate/investment banking at a MM in NY and although its early, I don't believe this is the right path for me. I've started looking into for full-time roles in asset managementas I like the structure of these programs more. Does anyone have any knowledge on AM...

30 May 2016

One of my good friends whom is an alumni of William college and Oxford university has worked in fixed income for over 15 years primarily at Bank of America where he was a managing director of fixed income sales. During his tenure he was an integral part of 351 deals totaling over 89 billion until...

19 Sep 2019

Hi there, I am currently looking at a few offers for this upcoming year and I think they're all great opportunities. Personally, if I were to stay within finance as a long term career, I would be interested in being in a sales or fundraising type of role, with a strong aspect of relationship...

06 Nov 2016

I'm looking into a Private Banking Analyst position at J.P. Morgan. I'm a senior at a semi-target, and I've worked in PWM before. I'm curious to know: -How does private banking differ from general wealth management (besides just the pure dollar amount needed to be a client)? - How actually...

23 Sep 2011

Hey guys I wanted to hear your thoughts on the Private banking/PWM route (I'm assuming they are the same thing?). A few people I am close to were once big traders in BB firms and now they advocate Wealth Management for BB banks. Is this bad advice for someone so early in their career path (Looking...

06 Aug 2015

The goal of the post is to reach out to professionals in London regarding getting INTO private banking / family office space. A person in question looks for a position within the target space and is basically seeking advice regarding two aspects: the firms and how to apply. Candidate: Education -...

31 Jul 2016

Hi everyone, I work in London in a US BB bank in private banking as an Investment Advisor. I've joined on a grad scheme in 2011 from a target school. Unfortunately I have entered PB relatively randomly and I definitely crave for an institutional role. I understand that 3/4 years down the road my...

01 Mar 2015

Hi, I am an undergraduate student considering going into Private Banking. So far there seems to be a dearth of information about that field scattered throughout the site. Here are my questions, I would appreciate if someone could answer them.

07 Sep 2011

I was wondering if someone could provide me with a list of the most reputable private banks in the US and in Canada? I have been doing a lot of research, but am having a hard time differentiating between something like JP Morgan PB and Goldman Sachs PWM. Ultimately, I want to be going into the PB...

13 Jun 2015

Hi guys, Two of my friends accepted SA positions with Fidelity ER and JP Morgan PB , therefore they know now that they starting analyst salary would be 38.5k pounds for Fidelity and 50k for JP ( the salary just got increased from 45k to 50k). So I am a bit confused, how can there be such a...

31 Mar 2015

It seems like PB entry level comp is in-line with other careers in finance (no need to tell me it is not as high as IB etc.). What do the VP+ levels make? From my point of view, I do not see why they would start an analyst at 70k +10k bonus, and pay a VP Portfolio Manager 100K + 20k bonus. So I am...

05 Mar 2011

Can anybody direct me towards any good threads on here or outside sources on PWM & PB career paths and other general information and discussions? I've read alot of threads on here but the information seems pretty limited since its mostly IB on here. Thanks EDIT: I'm mostly interested in information...

23 Aug 2014

Hey guys, I have a final round interview with Citi's private bank in a couple days. It consists of three half-hour interviews. During the first round phone interview, I was asked a mix of resume-related questions (describing my background, experience, etc.) and technical questions, related to risk...

18 Nov 2010

Hi all, As a Junior I'm a little confused as to how one gets into private banking. This past summer (sophomore summer) I did an internship at a private wealth management firm. To clarify, a small firm that managed around 120MM with client portfolios starting at $250,000. I learned a lot and found...

13 Sep 2009

Hey guys, I'm interested in looking into a Sales related career. I think that I would have the qualities to succeed in a sales-type position and I think that talking to people seems a hell of a lot more interesting than looking at charts and numbers and shit. I was hoping that someone could answer a...

12 Sep 2012

Applied for Private Banking Internship at JPMorgan. I first had a video interview on Hirevue about a month ago. After that I asked to proceed in a phone interview with private banking department in Atlanta. It has now been +2 weeks and I am wondering if anyone has heard back and been told about...

09 Nov 2017

HI, I have been invited to an assessment centre at RBS- Coutts Bank on Wednesday. This is my first banking/ finance assessment centre and I am very nervous as I have no background in finance. I was wondering if anybody has taken part in the RBS/ Coutts bank assessment centre for Private banking? If...

21 Jan 2017

So this is kind of old school. I'm currently a consultant (3yrs out of college) performing macro analysis for capital markets and corporate strat guys. My fiance's father is a BB wealth manager in NY, generally managing ultra-high net worth families and VIP accounts like foreign royalty and the...

12 May 2010

hey everyone, I just joined wall street oasis but I've been reading about ibanking and pwm on this website quite a lot in the last few weeks. I'm currently a junior double majoring in economics and political science at a semi-target looking to go into a pwm internship in los angeles this coming...

06 Feb 2011

Hello friends, I would like to ask al the minds out there for your advice. First, the stats: As of right now i am working as a licensed banker. I have my 6, and life and annuities. i have 5 years of banking experience. My future goal is to be a Private Banker (possible focus on International...

08 Sep 2011

Advice request-what to do next: I currently work for the Wealth Management unit for a one of the biggest Swiss Banks. My position supports two advisors who in total manage approximately $450M. Went undergrad to a well respected private college majoring in business and am scheduled to finish a...

24 Sep 2014

Hi guys, I received an email from JP with the aforementioned subject inviting me to an on-site 1 hour interview. My question is the following: I have already interviewed with the entire team at this location for the role under consideration, so is there a reason as to why they would need to have...

22 May 2013

Hi, I am interested in a position in the NY office of a private client division of a major mutual fund company (Fidelity/Blackrock/Neuberger/PIMCO/MFS etc.) This is not a position in retail, I would handle customized portfolio management and some client services for HNW clients. I wanted to know...

31 Jul 2014

Hello. So I have an offer to join a private banking/ PWM team in a local office for Merrill Lynch. ML does not do the typical analyst > associate > VP > etc. role like other BBs. I was hoping I could get some advice on this jobs impact of my career. Would this be a good first job out of college?...

04 Apr 2014

What do you think has more long-term job security and income potential? Being a Relationship Manager as a Commercial Banker or Private Banker? Seems like everyone is trying to be a Financial Advisor these days. Building a book of business is going to take time for either, but the personal side I...

06 Apr 2017

Hi guys, looking for some external advise regarding this very important career choice that I have to make pretty soon. I have received offers for both JPM Private Banking VS GS PWM (SA Position) and I am having a little trouble deciding. Essentially the choice I make will impact the next 3 years of...

27 Feb 2012

Does anyone have a list of head hunters / recruiters for private banking? I have found few roles advertised for analyst / associate roles apart from JP Morgan PB. Are these positions all filled through referrals or from MBA / undergrad recruiting?

27 Mar 2013

Hello, I am starting a full time Analyst position in NYC this summer at a BB Private Bank. I know that I will need to take the Series 7 and pass. When will I need to take the exam (ie. within a few months of my start date)? Can I take it before I start my position? Am I supposed to be "sponsored" or...

30 Jan 2011

Hello , First time poster. How hard would it be to switch from the private banking ultra high net worth division of a BB to the investment banking division? Is it doable? I have used the search function for this question but I have not found any clear answers. Thank you in advance, Big B.

11 Aug 2010

After graduation, I have an opportunity to work at a top tech company (think Yahoo, Microsoft, Amazon) in a financial analyst role. I also have to opportunity to work as a Private Banking analyst for a BB. My goal is to get into a top 10 MBA. Ceteris paribus, what role would be more impressive for a...

05 Mar 2012

Hello, I'm a graduating senior at a US target school, and I'm interested in learning more about private banking/AM opportunities in London... noticed that most of the firms I am applying to have deadlines coming up in a week or two, but do firms such as Barclay's, JP Morgan, GS, etc hire on a...

08 Oct 2012

Hoping someone can provide some insight on Private Banking analysts and what their normal day looks like, specifically at Citi. Also, is there any interview info or tips anyone could provide? To those of you out there at Citi, anything special you guys had in your cover letter or resume that you...

08 Oct 2016

Recent paper by Swiss Finance Institute on state of private banking in Switzerland with practical implications and recommendations. PDF available here: http://swissfinanceinstitute.com/system/tdf/WP_In… Abstract: This paper analyzes the industrialization processes of Swiss private banks against...

08 Sep 2016