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Old 12-03-2012, 11:51 AM
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Thanks for sharing. Do u think those in local or foreign banks make more? I heard local banks' treasury sales hit comm more easily becos they have more deposits and accs than the foreign banks.
Also, in the past 2 years, since the set up of the higher tier (aka "private client") of priority/premier banking, alot of high net worth accs hv been migrated to these "private client" tiers, leaving less AUM for RMs and TSOs in priority banking...so do u still think the average TSOs are making 120k-150k today? above average abt 150-200k?
Personal Opinion only, may not be true. I think local bank hit comm easier because of the much much larger deposit base. Foreign banks need to "snatch" client base which is very competitive. The priority market belongs to the local banks because of that and I think ANZ, standard chartered, Citibank maybank etc had a slight disadvantage but they had a more sophisticated client base. For private banking, it is the other way as international tycoons like big names like Credit Suisse, UBS etc e.g if you have USD 50m, you are more like to choose UBS than choose say UOB private bank. If you like niche markets, then EFG, Julius Baer, Sarasin, Coutt will be a better choice.
Oh about today market, I think it is a different era. Money is harder to earn from all fronts and "easy" money seems to be disappear altogether. The clients also getting more savvy which means lesser margin. I think if got comm, average should still 100 to 130k but getting anything above 400k p.a. is becoming rarer. Everyone is sequeezed. I fear for final demolition of this niche segment in a few years time. Chances that everybody will switch to (pathetic) bonus scheme and no more comms.



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