Your current employer’s strategic direction may no longer align with that of you as a relationship manager, such as a shift to a different business philosophy or a change of focus to other business lines.
Switching from one Swiss private bank to another can make perfect sense, depending on the situation and ability. Whether a change is worthwhile depends on various factors, such as the position, age, client base, the strategy and reputation of the new bank, and the remuneration conditions.
Making a private bank change to improve your position or better serve your clients can advance your career development and allow you to add other corporate titles.
A move to a wealth manager can also be beneficial, especially if you are looking for more flexibility in product selection, independent investment research and offering customised investment concepts.
Wealth managers often provide greater transparency and individualised service and are less influenced by the interests of their investment banking/asset management departments. In addition, wealth managers usually have a lean and efficient organisational structure, which can lead to faster decision-making and responsiveness.
After all, it is crucial that you carefully consider the advantages and disadvantages of such a decision since hunter qualities are fundamental, especially for a switch to a wealth manager, not being able to hide behind a well-known financial institution brand.
Source: LinkedIn
