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Wealth Management… New Structure & Roles
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Date: 17th Oct 2004
Wealth Management’s intention to pilot a new team structure is likely to lead to the merging of the Private Banking IFA role into a hybrid IFA / Relationship Manager role, in order to service exclusively the new customer segment.
In essence the Bank’s plans involves:
- significantly increasing the number of Private Banking Consultants (PBC’s)
- introducing a Private Banking Manager (PBM) role to service purely ‘traditional’ customers
- broadening the Business Development Advisors (BDA’s) role to include Private Banking Premier Account opening.
Subject to the outcome of the pilot and providing negotiations are completed successfully, the bank intends to move to this new structure throughout 2005.
However, it is not expected that all ‘target’ customers will be dealt with by PBC’s until Q4 2005.
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