01 December

Private banking is generally concerned with banking services along with investment, tax management, and other financial services to the High Net Worth Individuals. Private banking primarily offers more personalized financial services to their clients.

HNWI are the high net worth individuals who possess the capital of 1 million dollar and above and hence are capable of gaining access to various investment avenues than the average person such as in hedge funds & real estate. Other than this, private banking provides information and advices regarding investment’s know-how and suggests an appropriate action plan to the clients.

Benefits of private banking includes: Privacy, Discounted Services and High investment returns. Private banking offers:

  • Investment management
  • Underwriting
  • Mergers & Acquisitions
  • Boutiques
  • Financial advisory
  • Research
  • Asset management
  • Raising capital
  • Sales & Trading

Thus, to perform such tasks and take higher responsibilities, a private banker must possess certain skills and qualification to justify the given role. A private banker is primarily responsible for managing the finance of high income clients. They certainly fulfill numerous tasks related to finance but their major responsibility includes protecting and increasing a client’s wealth through investing in various investment avenues.

To acquire the position of private banker, it generally requires a bachelor’s degree in accounting or finance although the preference is given to the post graduation degree holders. This job needs a background in providing a wide range of financial services especially to those with High Net Worth Individuals. It also requires strong interpersonal skills and knowledge about the clients’ respective industries.

Tasks performed by private bankers include:

  • Managing relationship with clients and knowing their changing needs.
  • Monitoring loan portfolio and resolving delinquencies, overdrafts, loan and deposit maturities.
  • Advocate solutions related to credits, loans requests, and assisting senior lenders.

We can conclude that this field requires hard working, intellectual and skillful individuals to sustain in the field of finance. Fresher can also apply in private banking if fulfills the above given criteria, as we know there is initially slow but later on higher growth in terms of career, package, facilities etc.

Nowadays an enormous growth has been witnessed in the field of finance and the industry is looking for such individuals who possesses the skill to offer financial services to the clients and build relationships with them in order to grow the firm and the banker himself respectively. The market is providing n number of opportunities to the finance individuals seeking for the post of a banker. The firms mainly focuses on the practical knowledge an individual have and thus makes it necessary for the one to have hands on the technical as well as the fundamentals.

Along with the graduation degree in required discipline, one must possess extra skills related to the core industry for which, one can go for internships, certifications, workshops and thorough knowledge of banking and finance.

About Aayushi Joshi

Hi, I am Aayushi Joshi.


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