Quote:
Originally Posted by Unregistered
Just to emphasize the terms. There's private client and private banking. I think it's something like private client are clients with $200k to $1m and private banking are clients with $1m+. I was initially confused but then my friend help me clarify. Hehe.
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your friend is bs you. internally there is no such thing as 'private client'. this is a marketing term used to make those 200k customers sound like vip when they are not. from a bank's perspective its just retail/personal banking or private banking.
there is virtually no diff in products and treatment b/w a normal bank customer and a so call 'pte client', only diff is surface stuff like different queue, can sit down enjoy free coffee and a lower customer to teller ratio.
in many banks the same basic pay and incentive plan apply to both consumer bankers and pte client banker. there is hardly any difference in total package b/w the 2 type of bankers if both have the same performance.