Whilst the title of the blog is a little misleading, because, as the cliché goes, no two days are ever the same, in the coming paragraphs I will attempt to outline what us Private Bankers actually do on a day to day basis.
In truth, Private Banking is one of the most varied and diverse areas of finance, if not the most.
A private banker, during any one day, is likely to be involved with client acquisition, asset allocation, international and local stock, bond and currency markets, day to day transactional banking, credit and loans.
He/She will therefore need to be oh fe with many different subjects and disciplines, such as investment and portfolio theory, execution of trades in securities, local and international banking law and regulation, tax issues relating to investments, and the list goes on.
In certain places and institutions, the job description might be wider still, and include the provision of concierge services, such as organizing transportation to and from the airport and the booking of hotel accommodation, amongst other things.
Indeed during the recent turbulent years, bankers have had to often act as quasi- psychologists, in order to calm and reassure clients as to their investments !
It is for these reasons that Private Bankers are often referred to as Jacks-of-all-Trades.
Add in to this mix the fact that no two clients are the same, and their focus and needs can and will differ greatly, it ensures that Private Bankers are always being kept on their toes and are constantly having to hone their knowledge and skill set.
For me, all of the above is why we enjoy doing what we do ! The role is varied, interesting, dynamic and ever-changing.
Above all, however, at the end of the day we are assisting real people with real issues, and nothing is more satisfying than that.