Private banker income - Page 3 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Private banker income

Reply
 
Thread Tools
  #21 (permalink)  
Old 30-12-2008, 02:54 PM
Terence--
Guest
 
Posts: n/a
Default 3739

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.

Reply With Quote
  #22 (permalink)  
Old 19-01-2009, 02:47 PM
Vexed--
Guest
 
Posts: n/a
Default 3867

Treasures is actually not bad, they did not lose so much for me. Only got caught in Aussie.
The worse I heard from my friends is an Australian bank CBA that morphed in something called Schroders (British) now.
They have got not even a basic equity linked product or fixed income to buy.
They kept trying to sell and charge 4% of their so called in house portfolio which they say is down 10-15%. Kept saying that that they performed better than others!
I find the service at Julius Baer not bad.
I am just a USD3mln guy, small.

Reply With Quote
  #23 (permalink)  
Old 21-02-2009, 01:04 AM
Goodie--
Guest
 
Posts: n/a
Default 4105

Meh. DBS Treasures stopped their airport limousine service already. Just found out today. Pissed off lah. Time to shop around...

Reply With Quote
  #24 (permalink)  
Old 21-02-2009, 07:01 PM
wealthjourney--
Guest
 
Posts: n/a
Default 4109

Vexed ,
What type of account do you have in Julius Baer?
And what is the AUM charge?

Thinking of shifting out of CS & UBS into other..but every other big name out there have been losing terrible amount of money.. I also donno where is a safe place to keep money anymore..
Reply With Quote
  #25 (permalink)  
Old 22-02-2009, 10:27 AM
Goodie--
Guest
 
Posts: n/a
Default 4111

wealthjourney, which currencies do you keep your wealth in? I am conflicted. Thinking of shifting some to AUD (mostly mine is in SGD now).

CS is doing a lot better than UBS though, I can say that much...
Reply With Quote
  #26 (permalink)  
Old 19-09-2009, 08:05 PM
6 yrs in Pte Banking
Guest
 
Posts: n/a
Default

Guys let me give you an inside STORY on how pte banks in Spore works. Firstly im not a pte banker but a product specialist.

First of all, u might be surprised, Spore is the 2nd largest pte wealth centre in the world as @ 30.06.09 and we are contributing ~6-8% of the world’s offshore pte wealth. CHF tops @ ~16-18%.

N most Sporeans’ a/cs here are are not the “elite” type… mostly just ikan bilis for the pte banks. i have seen ten digit figures from middle eastern, latin americans n Indonesians. Infact, our govt is also trying very hard to become the CHF in Asia, safe, fun (f1, casino, universal studios etc) n even creative tax breaks. The last 10yrs have been growing like crazy… up untill last yr’s crisis. Look at jim rogers or even jet li etc.

Now, would you really make $ via pte banking a/cs? Most likely not as your PB has a big target to meet… so most pro. u would be trading more than u actually need so conflict of interests. So not making $$ then why pte banking a/cs… its becuz in Spore this industry has not mature yet. Infact in CHF, ~80% of the wealth there is still held in small boutique private banks so im reckoning these small local boutique family office kind of shop would be set up in the future where the rich would have the ultimate personalized service with $$ being managed as what the money mangers would do for their own $$.

Consistence returns yr on yr with good financial planning is the key to grow REAL wealth!!!

Cheers
Reply With Quote

  #27 (permalink)  
Old 19-09-2009, 08:09 PM
Arbitrage
Guest
 
Posts: n/a
Default

Hi 6 yrs in Pte Banking, I’m from bank too. Would like to find out more about Pte Banking from you. Don’t mind emailing me at [email protected]?
Thanks alot.
Reply With Quote
  #28 (permalink)  
Old 05-12-2010, 01:07 AM
Unregistered
Guest
 
Posts: n/a
Default

Hello. I'm a new hire into Private Banking trust administration. I've been wondering if there is a certain career path/courses I could take to get to my ultimate goal of becoming a Private Banker?
Reply With Quote
  #29 (permalink)  
Old 07-12-2010, 02:59 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Hello. I'm a new hire into Private Banking trust administration. I've been wondering if there is a certain career path/courses I could take to get to my ultimate goal of becoming a Private Banker?
Trust admin seems to be quite good leh. I have friends in Citi Trust they get sent overseas for training, also take the STEP certification (Singapore Trust Estate Practitioner?) etc. Pay also quite high and many private banks fighting to hire them due to the limited trust experienced adminstrators.
Reply With Quote
  #30 (permalink)  
Old 12-12-2010, 01:06 PM
Unregistered
Guest
 
Posts: n/a
Default

I was just thinking that being in the Trust side of things does mean that I'm not supposed to be involved in the Investment side. Being a RM would enable me to deal with both Trust & Investments, and the job would be more heavily skewed towards maintaining relationships with clients. The Trust side would be more administrative in nature am I right?
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
100k for Assistant Private Banker Salary.sg Income and Jobs 7 17-05-2008 08:21 PM
6-figure a month for private banker? Salary.sg Income and Jobs 5 13-12-2007 11:20 AM

» 30 Recent Threads
How much CPF do u have? ( 1 2 3... Last Page)
65 Replies, 37,216 Views
Career as Teacher ( 1 2 3... Last Page)
7,019 Replies, 4,446,771 Views
Lawyer Salary ( 1 2 3... Last Page)
18,806 Replies, 7,938,870 Views
Work culture in IHiS ( 1 2 3... Last Page)
399 Replies, 304,023 Views
DBS tech seed programme ( 1 2 3... Last Page)
2,806 Replies, 912,118 Views
Micron starting pay ( 1 2 3... Last Page)
660 Replies, 269,544 Views
Working in NEA ( 1 2 3... Last Page)
90 Replies, 116,344 Views
IMDA (under MCI) ( 1 2 3... Last Page)
463 Replies, 226,970 Views
Roles in accenture singapore ( 1 2 3... Last Page)
5,665 Replies, 1,405,477 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,026 Replies, 3,590,505 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,261 Replies, 1,023,071 Views
Health Promotion Board
8 Replies, 7,489 Views
How much are you earning per annum? ( 1 2 3... Last Page)
13,555 Replies, 5,643,042 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
4,993 Replies, 2,782,909 Views
Compare Your Annual Income ( 1 2 3... Last Page)
32 Replies, 9,615 Views
Job Application with MOE... ( 1 2 3... Last Page)
451 Replies, 476,662 Views
Enterprise Singapore hiriing... ( 1 2 3... Last Page)
168 Replies, 165,651 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
4,275 Replies, 3,434,501 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,122 Replies, 798,083 Views
DSTA or CSIT ( 1 2)
17 Replies, 29,752 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,340 Replies, 671,478 Views
Compare civil service salary ( 1 2 3... Last Page)
15,119 Replies, 10,270,431 Views
Htx ( 1 2 3... Last Page)
96 Replies, 64,674 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
1,099 Replies, 479,365 Views
DBS ACE Programme ( 1 2 3... Last Page)
70 Replies, 23,339 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
882 Replies, 269,039 Views
Comp Science Frsh Grad Salary ( 1 2 3... Last Page)
643 Replies, 203,301 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
9,929 Replies, 3,358,636 Views
For those with 2-5 YOE, what is... ( 1 2 3... Last Page)
1,103 Replies, 306,112 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 04:51 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2023, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2