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Old 14-12-2010, 09:32 AM
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Originally Posted by Terence-- View Post
I just threw away an Business Times article that I had cut about a year ago. This article states that a bank expects to earn about 1% of its assets under private banking management. Therefore, if you have clients with assets of $100m. the bank hopes to earn $1m. Of this, about 15-30% will be used to pay the private bankers's salary.

On another point, my wife is complaining about her relationship managers (RMs)with a major local bank. She says that they are so new and make mistakes with simple transactions. Often, the attending clerks know more than them. The problem as mentioned is that there is such a high turnover.
Wow... that's $300,000 (at 30%) for a twenty-something year old (i think most private bankers are young gals ...)!!!! Very well-paid. Is $100 m the typical range of client's assets they are in charge of?

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