private banking

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 ...

39 comments - 43 silver bananas - Mar 23 2019 - 5:00pm - navyrugby

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 ...

41 comments - 4 silver bananas - Jan 1 2019 - 12:00pm - limitless33

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 l ...

32 comments - 0 silver bananas - May 19 2018 - 11:21pm - wallstreetwolf88

What are analysts expected to wear on a daily basis in PB? Obviously if you are in front of clients you would be in a suit but are the entry-level positions also suiting up each day? Question mainly for the New York offices. Thanks. private banking ...

94 comments - 0 silver bananas - Jan 22 2018 - 6:59pm - JENS88

Does anyone have an opinion on JP Morgan's summer analyst program for private banking? More specifically- Which groups are the most desirable to be in? What are the hours/lifestlye/culture of the NY office? Is this a good place to start a career (con ...

94 comments - 0 silver bananas - Apr 22 2016 - 8:58am - Lloyd_Blankfein

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 answ ...

55 comments - 0 silver bananas - Feb 9 2017 - 5:12pm - bluebarracuda

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. ...

50 comments - 1 silver bananas - Feb 21 2017 - 11:12am - BANKING100

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 pur ...

38 comments - 2 silver bananas - Mar 21 2017 - 8:37pm - Bankn

I'm interviewing for a position with Credit Suisse in private banking this week in Philadelphia. Have any of you interviewed/worked there? Is the interview technical or is it more of a personality fit? Thanks! private banking ...

22 comments - 0 silver bananas - Feb 23 2018 - 1:25pm - jcm5001

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 ...

15 comments - 0 silver bananas - Nov 8 2016 - 1:09pm - Quint101

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 ...

18 comments - 1 silver bananas - Nov 8 2016 - 3:51pm - GibsonLA

Is PWM or Private Banking more prestige in terms of pay and experiences? Which BB is the best in each field. PWM private banking ...

17 comments - 0 silver bananas - Mar 10 2017 - 5:50pm - grads

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 ...

20 comments - 0 silver bananas - Jan 31 2011 - 4:15pm - BaronRothschild

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 f ...

13 comments - 0 silver bananas - Aug 7 2015 - 12:19pm - wmkid1

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 ...

13 comments - 0 silver bananas - Mar 27 2015 - 7:18pm - mnvj

I'm currently pursuing a career in Private Banking and would like to hear any insights into the associate programs at Goldman vs. CS vs. JP.- Compensation Structure- Nature of the role- Hours- Lateral Mobility- Culture- Reputation- Outlook private ba ...

13 comments - 0 silver bananas - Feb 7 2014 - 4:25pm - puckmonkey

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 ...

15 comments - 0 silver bananas - Mar 5 2011 - 11:58am - sk8247365

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 recomme ...

10 comments - 0 silver bananas - May 3 2016 - 3:25pm - Billion with a B

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 c ...

10 comments - 0 silver bananas - Feb 23 2018 - 1:25pm - Mr. G

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 fami ...

12 comments - 0 silver bananas - May 12 2010 - 1:36pm - AssetHound

Offers at both. Associate level. Very different business models. Would like to kick it old school and give everybody a chance to comment. Which to choose? rank associate private banking private wealth ...

11 comments - 0 silver bananas - Jan 4 2012 - 7:47pm - navyrugby

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 netw ...

7 comments - 1 silver bananas - Oct 13 2017 - 12:17pm - lipstickbn

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 p ...

7 comments - 1 silver bananas - Feb 9 2017 - 11:23am - ska212

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 ...

8 comments - 0 silver bananas - Sep 12 2012 - 10:40pm - my man

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 ...

7 comments - 0 silver bananas - Mar 31 2015 - 11:05am - JogaBonito

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 ...

8 comments - 0 silver bananas - Feb 20 2011 - 3:12pm - OmegaM41

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 he ...

7 comments - 0 silver bananas - Aug 23 2014 - 12:58pm - Jacob939

Offered internship positions- BlackRock portfolio management or Private Wealth Management at a bulge bracket investment bank? private banking BlackRock ...

7 comments - 0 silver bananas - Feb 26 2012 - 7:01pm - dol1112

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. ...

6 comments - 0 silver bananas - Jun 13 2015 - 12:17am - combank1

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 ...

6 comments - 0 silver bananas - May 16 2015 - 5:02pm - PierreC

Not much info on here for Bessemer Trust. Anecdotal stories have suggested that they have a very conservative culture. Anyone else have experience working for them or have an idea of the culture? PWM private banking AM wealth management ...

6 comments - 0 silver bananas - Sep 10 2013 - 2:51pm - Shmoozer

Hi guys: I received an email from J.P. Morgan inviting me to a 1st round phone interview this week. My question is, what does it mean that this position is "off-cycle"? Does this mean the hiring process will be faster than a regular "in-cyc ...

6 comments - 0 silver bananas - Mar 13 2013 - 10:40pm - PierreC

I have a SA position at a BB. Just got my placement as MO PB. This good? Im guessing its alot better than other areas in operations? private banking ...

6 comments - 0 silver bananas - May 21 2012 - 12:16pm - eeb91

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 pari ...

6 comments - 0 silver bananas - Mar 5 2012 - 2:47pm - blueberryrain

In a bind here: Offer 1: Top private banking analyst program Pros: Great firm, great salary for wm/ pb Cons: experience, exit opps questionable Offer 2: Mid-tier investment bank analyst program Pros: better experience, better exit opps Cons: not a great n ...

6 comments - 0 silver bananas - Oct 27 2009 - 11:40pm - kac10

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 g ...

5 comments - 0 silver bananas - Feb 6 2011 - 11:42pm - tennisball02

I wanna do banking, but just not sure what exit oppo will PB provide. private banking business consulting ...

4 comments - 0 silver bananas - Mar 20 2014 - 2:11pm - mojiemily

Hi guys! Does anyone know what the "Global Asset Management Analyst Training Program" for new Private Banking Analyst at JP Morgan consists of? I am curious to know whether or not any of you monkeys have had the opportunity to participate in thi ...

4 comments - 0 silver bananas - Jun 12 2013 - 3:39pm - PierreC

Hi guys: I'd like to see if anyone on this forum could give me advice and suggestions regarding my resume. Cheers, P! IB resume private banking opinions pb financial analysis ...

4 comments - 0 silver bananas - Apr 2 2013 - 11:02pm - PierreC

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? Recruit ...

4 comments - 0 silver bananas - Mar 27 2013 - 9:01pm - Shmoozer

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 fir ...

4 comments - 0 silver bananas - Oct 8 2012 - 12:24am - ggzoo

Anyone able to speak on how useful or weighted this is for elite pwm / private banking jobs including the ones that involve the portfolio management side of things? is it only useful for the 'sales'? thanks private banking CFP ...

4 comments - 0 silver bananas - Sep 21 2012 - 12:45pm - shorttheworld

This summer i am doing an internship at a BB in new york city in the private banking department and had a couple of questions I was hoping some guys could answer. Firstly, are there multiple career paths in private banking, or does it normally follow the ...

4 comments - 0 silver bananas - May 10 2011 - 10:03pm - pauljo01

If anyone is familiar with the industry, who are the top firms? private banking ...

4 comments - 0 silver bananas - Nov 15 2010 - 7:38pm - Lloyd Christmas

Fortunes come and go, but the lessons you learn last forever....and are worth more than their weight in gold. Disagree? Discuss Investment Banking IB energy sales options stocks BB trade private banking bonds private bank ...

4 comments - 0 silver bananas - Apr 22 2010 - 10:38pm - wallstreetnobody

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 ...

3 comments - 0 silver bananas - Sep 24 2014 - 7:48am - ShortNYLongCT

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 s ...

3 comments - 0 silver bananas - Jul 31 2014 - 12:35am - Sue Collini

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 care ...

3 comments - 0 silver bananas - Apr 4 2014 - 5:48pm - NM-Dude

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 Ba ...

3 comments - 1 silver bananas - Oct 3 2011 - 8:02pm - pierrer21

Hello, so i'm actively pursuing a career in finance. I don't want to work at an investment bank and I think that creating a hedge fund or Asset Management company is my personal end game. My question is, what specific form of asset management al ...

3 comments - 0 silver bananas - Mar 20 2011 - 7:35pm - znd824

I had an interview yesterday with a large European bank in a local office for a private banking position. The interview was very conversational as it was a personality fit interview, but I never really got a chance to talk about my internship. We spent mo ...

3 comments - 0 silver bananas - Jun 24 2010 - 8:21am - jcm5001

I am currently a junior undergraduate student at a Big Ten University in the Midwest and have received internship offers in two different areas of investment banking. One is for a bulge bracket firm in Private Client Services, and another from a middle-ma ...

3 comments - 0 silver bananas - Apr 10 2010 - 8:47pm - espnkl

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 a ...

2 comments - 1 silver bananas - Nov 16 2017 - 7:21am - Timmy 22406

I just got invited for a private banking summer analyst interview in NYC. It's says its the final round but I haven't had any previous interviews and I go to a non-target. I was wondering if this was going to be a superday? Also what types of qu ...

2 comments - 0 silver bananas - Dec 1 2014 - 8:37pm - RTEI1384

Hi guys, I will be doing internship with a Private Bank in this summer and was given a choice to choose between Investment Solutions team or Relationship Managers team. From my understanding, investment solutions (investment counselors) are the product sp ...

2 comments - 0 silver bananas - Apr 9 2014 - 5:24am - noob_lao

I'm looking into different full-time programs within JPM and have narrowed it down to private banking and TSS Sales. I wanted to get some feedback from people who have worked in either of the two; possibly pros and cons of each. I have some experienc ...

2 comments - 0 silver bananas - Jul 10 2012 - 11:17pm - thebananaman

Hi guys, Just wanted to know if any of you who have interned at BAML WM or similar know what the structure is like at the company? I'm a bit lost and can't find too much online. Also, what does a typical SA there do? Thanks. Btw, this is for EME ...

2 comments - 0 silver bananas - Sep 21 2011 - 7:55pm - Recap

Hello, I realized that this website looks at PWM /Private Banking as a secondary carrer to Ib or S&T. Does this mean it is easier to land a job there? Will they take kids with lower gpa's more readily? Do they look for different skills such as a ...

2 comments - 0 silver bananas - Jan 4 2011 - 9:58pm - watever

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 o ...

1 comment - 1 silver bananas - Sep 19 2019 - 7:36pm - psperry

Private Banking (PB) is a form of wealth management service offered to ultra-high net worth individuals ($5mm and upwards). The services offered by a private bank will include: Portfolio investment ideas Wealth protection through asset investment such as ...

- silver bananas - Jul 31 2012 - 10:09pm - WallStreetOasis.com

Hi guys, Does anyone have any experience with the banker team structure at Citi's PB? My understanding is that it's composed in the way I list below, but is this correct? Also, what's the difference between an Associate Banker and Banker As ...

- 0 silver bananas - Apr 8 2017 - 9:23am - jeanmazpo

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 ...

1 comment - 1 silver bananas - Apr 6 2017 - 12:42pm - NYC 23

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 b ...

1 comment - 1 silver bananas - Jan 21 2017 - 5:39am - CFlores

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 ha ...

1 comment - 0 silver bananas - Oct 12 2016 - 1:35am - LiveRichly

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_Ind... Abstract: This paper analyzes the industrializati ...

- 0 silver bananas - Sep 8 2016 - 11:51am - jacobs1

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 firm ...

- 0 silver bananas - Jul 31 2016 - 2:56pm - 13th

Hi guys, looking for some help here.. a bit of a background first.. I attended uni in Asia studying engineering, and then completed a Masters in Fin from Europe. Came back to my home country (in Asia) post Masters (wrong time to graduate in EU- 2012), and ...

1 comment - 0 silver bananas - Jun 10 2016 - 4:54am - bsmonkey

I've been trying to do some research on pay for summer analysts at Private Banks (JP Morgan, Citi, Goldman, Morgan Stanley, BAML). There's a lot of information on investment banking summer analyst compensation, but no much for the private banks ...

1 comment - 0 silver bananas - Feb 14 2016 - 11:44am - nzana95

Apologies for the simple question. I've been offered a job within a large-ish Private Bank in Hong Kong (top 10) as a Manager/Associate Director of Credit Structuring within the Private Banking business focusing on Greater China. I come from a M& ...

- 0 silver bananas - Feb 2 2016 - 4:31am - JJ-Tang

What do you know about it? Have you been there, did you like it? Any type of information and thoughts are highly appreciated. Thank you. rbs Royal Bank of Scottland Commercial Banking private banking summer analyst insight experience ...

- 0 silver bananas - Jan 30 2016 - 6:55pm - wlululu

I'm currently working on a project which requires analyzing the structure of private banking and wealth management in banks, however until now, I have not been able to gather enough information/organization charts to have a fair analysis. I would gre ...

- 0 silver bananas - Mar 31 2015 - 12:18am - ali.zakeri

Hi, I have an Interview for a SA position with the national sales team of the private bank of a BB. I would really appreciate it if anyone can shed light on this role and all the various behavioral/ fit questions I should expect to be able to field....whi ...

1 comment - 0 silver bananas - Apr 23 2016 - 8:56pm - knicksallday

Hello everyone, I have an interview in a month for a Private Banking (wealth) internship at Credit Suisse in Eastern Europe. It might be my only chance to get an internship as my other applications were unsuccessful. I need to be prepared so I am looking ...

- 0 silver bananas - Nov 10 2014 - 12:32pm - Bk2121

Hello everyone. I amshortly having a phone interview with a Switzerland-based private bank for a position in Asset Management. Does anyone have similar experience? What to expect on the interview? As it is on the phone (with function head), I do not expec ...

1 comment - 0 silver bananas - Oct 9 2014 - 3:59am - YB

I have an interview with a Private Bank for the role of an Investment Counselor. Its not a typical sales role rather to assist RMs on advising clients on Fixed Income, Equities, Funds & Derivatives. What kind of questions can I expect at the interview ...

- 0 silver bananas - Jul 25 2014 - 7:19pm - IB Analyst

Hello monkeys! I'm a second-year analyst in private banking, and I thought I'd stop lurking on here and start contributing a little! private banking ...

1 comment - 0 silver bananas - Jul 16 2014 - 1:10pm - [email protected]

Anyone out there knows a private bank called Mirabaud? Is the pay good for a first year analyst and how many hours are you expected to work every week? analyst private banking private bank ...

- 0 silver bananas - Apr 23 2016 - 8:54pm - motomonkey

Does anyone have a good resource on private banking valuation or at least a good resource on the private banking industry, revenue drivers, regulation etc? Valuation private banking revenue drivers ...

- 0 silver bananas - Nov 3 2013 - 5:34pm - ProspectiveCD

Hi guys, I have an interview with JPM 's private banking division in Geneva. The job specs are the following: The Role Business & Product Development Analysts are an integral part of the team and are responsible for executing key deliverables wit ...

- 0 silver bananas - Sep 23 2013 - 2:49am - pektis

Hello, I have a general question about an area of Finance I know relatively little about and would really appreciate any sort of help. Would someone mind explaining to me what one would do as an analysts in a fixed income (or any asset class for that matt ...

- 0 silver bananas - Jan 3 2013 - 3:07am - knicksallday

Was wondering how easy it would be to move into a grad position for sales without a summer internship in sales and trading but in private banking instead at a BB? Thank you private banking ...

1 comment - 0 silver bananas - Apr 2 2011 - 9:17pm - jtsoi

I was wondering if a new forum dedicated to HNW Wealth Management and Private Banking could be started?. PB has always been the quiet cousin of IB, but in the last few years, it has regained interest amongst banking hopefuls given the contacts one makes i ...

1 comment - 0 silver bananas - Jan 30 2011 - 1:29pm - brian_singh

Hi everyone, Quick question- for a Private Banking/ PWM internship, is it acceptable to call myself a Summer/Fall/whatever Analyst or am I relegated to being a Summer Intern? I'd like to think i do some of the stuff an analyst does, but obviously not ...

1 comment - 0 silver bananas - Oct 11 2010 - 10:54pm - wildcat61

Hi all, I was wondering if anyone on here would be willing to help me out via pm, email, etc. Essentially I interviewed with a private banking group for an internship (think big name, clients $10mm+). They gave me a "homework assignment" to comp ...

1 comment - 0 silver bananas - Sep 27 2009 - 3:47pm - GibsonLA