If you employ the services of a private bank, it is highly likely that you have experienced a change of private banker during your term as a client. Why are private bankers always moving?
On the positive side, private bankers often move when presented with the chance to work in a place that really suits their style and ethos. On the negative side, they sometimes simply aren’t good enough and so are surplus to requirements when a bank periodically trims its workforce.
We sat down with Andreas Schwarz, Director, Asset Manager at boutique Singaporean wealth manager Golden Equator Capital, to discuss why successful private bankers are increasingly making the move to independent wealth managers, rather than to other banks.