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Strategies for Attracting Good Relationship Managers

Datamonitor, March 2010, Pages: 19


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As many wealth managers start to consider growing, rather than shrinking their relationship manager (RM) headcount, they need to know what good RMs want from their prospective employers in the wake of the crisis. They also need to know how attractive the different types of wealth managers are to good RMs and what they can do to boost their appeal and succeed in the marketplace.

Scope

- Draws on multiple in-depth interviews conducted with leading recruitment agencies during the course of January 2010.

- These agencies are based in the UK but are all active across Europe, and in several cases also cover the Middle Eastern and Asia Pacific markets.

- Incorporates results from The Wealth Management Market Leader's Survey 2010.

Highlights of this title

Good RMs want to maximize their pay in the short term, reflecting the instability in the sector. Money is not, however, their only consideration. They are also looking for financial and strategic stability, and giving serious consideration to whether the prospective bank has the products and services that their clients need.

With few wealth managers recruiting and a general unwillingness to offer salary increases, very few good RMs are moving banks at the moment. For those organizations that are recruiting, Datamonitor provides six relatively easy, low cost suggestions for actions that will boost their appeal to RMs.

Key reasons to purchase this title

- Understand what good RMs are wanting in the wake of the crisis

- Learn how attractive the different types of wealth managers are to them

- Find out what steps private banks can take to boost their attractiveness




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