Regional Head Of Private Banking (NY)

Position: New York Regional Head Of Private Banking

Location: New York, NY

Date Added: January 11, 2013

Space

Overview:

The opening at this boutique private bank is for a manager of the New York City office. This manager will oversee four team leaders, as well as investment managers, wealth strategists, credit specialists, private bankers and their support teams.

Primary Objectives:

  • Manage top talent bankers and advisors delivering a full complement of wealth management, credit and banking products and services
  • Attract top-level private bankers to accommodate the anticipated growth
  • Act as an advocate for both the client and the bankers in delivering highly personalized service
  • Participate in New York City’s social, financial and cultural activities at the highest levels to promote the growth of the private bank

Duties and Responsibilities: 

  • Develop sales management and relationship strategies to promote the revenue, growth and profitability of NY regional Private Client Service while maintaining credit quality
  • Expand and grow the existing book of PCS clients by leading/managing the ongoing sales process. This includes new client sales, referrals, cross sales and assisting with the client retention efforts of the NY team
  • Develop business opportunities by being active in the community and maintaining positive relationships throughout the region and throughout the bank
  • Meet frequently on a regular basis with prospects and clients to gain new business, get performance feedback, and provide management level visibility
  • Attract, retain, support and lead a team of top talent bankers and advisors who deliver the full complement of products, services, expertise, and highly personal service to clients
  • Maintain an active and robust talent pipeline
  • Stay abreast of new developments concerning policies and/or products, and communicate in a timely manner to the staff
  • Actively participate in and contribute to the weekly management team meetings
  • Maintain keen awareness of competitive strategies and actions in the marketplace
  • Effectively partner with the Credit and Operations teams through established meetings/calls to mitigate risk, implement changes, and provide feedback
  • Maintain all appropriate training and continuing education requirements for internal certifications and external licenses and certifications

Qualifications and Core Requirements:

  • BA or MBA with over 10+ years of sales and relationship management experience in financial services
  • 10+ years of senior management experience
  • Solid understanding and broad exposure to banking/credit, asset management, personal trust and brokerage services
  • Proven ability to successfully grow a business through the acquisition and retention of clients
  • Proven ability to attract, retain and motivate top performers
  • Ability to inspire confidence in management and staff by understanding and articulating the specialized needs of private banking clients
  • Proven ability to develop strong business partnerships with clients and prospects
  • Proven ability to form substantial internal and external partnerships to achieve organizational goals

Compensation:

The total compensation for the position will be competitive and flexible for the right individual. Based on our marketplace experience, the compensation will consist of a competitive base salary, a bonus (50% to 100%) based upon achievable objectives, and long term stock grants.

Riotto-Jones & Co. Comments:

Over the course of many conversations with this client, I heard specific expressions that should describe the ideal candidate. These key words and phrases included “statesman”, “Mr. /Ms. New York Private Banker”, “advocate for the bankers and clients”, and a “representative reflecting the sophistication, ethic and style of my client organization”.