Private Banker - Director (Hybrid)

Job Title –Private Banker – Director

Business – Citi Private Bank

Division – Citi Global Wealth

Officer title –Director

C-Grade –C15

Location –Frankfurt

Legal Entity –Citibank Europe PLC – Germany

Role posted until – 9th July 2023

Citi Private Bank is a trusted advisor to the world’s wealthiest, most influential individuals and families. Like Citi’s government, institutional and multinational corporate clients, Citi Private Bank clients receive bespoke service and access to the best ideas and solutions tailored to their unique needs and aspirations. A part of Citi’s Institutional Clients Group, Citi Private Bank offers a wide range of products and services covering capital markets, managed investments, portfolio management, trust and estate planning, investment finance and banking. Among its select clients are a third of the world’s billionaires, many of whom are globally minded entrepreneurs with an expectation of an institutional level of service, who take advantage of Citi’s holistic approach to wealth management.

Citi Private Bank is represented by more than 1,000 private bankers, investment professionals and product specialists across a network of 90 offices in 33 countries and over 128 currencies worldwide, making it the most global private bank.

The Private Banker’s role is to develop and deliver private and investment banking services to Ultra High Net Worth (UHNW) clients within the German market. UHNW is defined as clients with USD 25+ million Net Worth or USD 10+ million AUM or USD 100,000+ Client Net Revenue.

JobPurpose/Responsibilities:

Build Client Relationships:

• Demonstrates an in-depth understanding of clients’ businesses and sources of wealth generation
• Anticipate events in a client’s life and business which have significant financial implications
• Serve as a trusted advisor to clients who frequently seek strategic advice regarding financial matters
• Build relationships with client families that cross generations to establish long-term connections to the CPB
• Effectively manage client expectations regarding what can and cannot be executed on their behalf

Develop Client Solutions:

• Maintains a comprehensive understanding of client goals and risk tolerance to ensure that financial strategies are appropriate
• Uncovers needs that are not articulated or clearly expressed by the client
• Brings together the appropriate product experts to develop long-term solutions that strengthen client relationships with the firm
• Helps clients achieve broad financial and investment goals related to the creation, management, and transfer of wealth
• Develops tailored solutions that address clients’ unique investment, risk management, and financing/liquidity needs

Execute and Drive Results:

• Sets challenging goals, regularly monitoring progress and making adjustments to achieve objectives
• Plans and prioritize daily, weekly, and monthly activities to maximize revenue growth and client satisfaction
• Transfers or eliminate non-productive accounts in order to focus on clients who fit within the business strategy
• Establishes a referral network and gain introductions to potential clients which generate new sales
• Close the deal, making concessions that are appropriate and in line with the fundamental interests of the Private Bank

Teamwork:

• Helps team members to acquire the experience necessary to establish credibility with clients and intermediaries
• Demonstrates strong commitment to team success and place team goals above personal achievement
• Encourages team members to work together to deepen client relationships and exceed sales goals
• Aligns complementary experiences and skill sets of team members to maximize client effectiveness

Build & Maintain Relationships with Business Partners, Colleagues and Staff:

• Develops strong relationships and partners with support functions across the CPB to maintain control, find solutions and resolve issues.
• Follows standard procedures and advocates appropriate exceptions to standard practices when the bigger picture needs to be considered, and seeks or grants approvals as appropriate.
• Ensures compliance on regulatory requirements and minimizes any potential liability for Citigroup.
• Ensure strong controls and effective operational and administrative services
• Sets an example of behaviour to all staff.

Navigate the Citigroup Organization:

• Partners with colleagues across the Citigroup network to leverage capabilities and share expertise
• Advocates for the client, negotiating on their behalf with members of the Private Bank and Citigroup
• Ensures clients are presented with seamless execution of internal processes and Citigroup services
• Prioritizes issues that need to be escalated, getting the appropriate people involved to expedite resolution

Promote Integrity and Trust:

• Understands and communicate the risk involved with various investment strategies
• Establishes credibility and trust with all CPB colleagues, maintaining the highest standards of personal and professional integrity
• Perseveres in delivering what is promised, even when obstacles arise
• Flags and reports illegal or improper transactions, complying with all regulatory policies and control procedures regarding client acceptability

Technical Learning and Self Development:

• Understands the broad array of products and services under the Citigroup umbrella
• Applies an in-depth level of knowledge in several key investment and financing products
• Develops expertise to identify business opportunities and address the unique needs of specific client segments
• Keeps abreast of financial industry developments and current global market conditions
• Presents and communicate complex financial concepts and investment strategies with the highest degree of professionalism
• Seeks continuous improvement, admitting mistakes and changing behaviour based on feedback from clients and colleagues

Development Value:

• Exposure to all areas of the CPB and ICG business across Europe with the opportunity to develop within these areas.

Knowledge/Experience:

• Extensive and proven experience in UHNW Private Banking or the institutional/corporate banking market, specifically covering the German market
• Extensive experience in working with and/or leading client teams and transactions
• Demonstrated track record in relationship acquisition.
• Proven success in building a new business, prospecting for new clients and business, identifying new business opportunities and closing transactions.
• Extensive experience in integrating and balancing diverse priorities.
• Extensive experience in selling new products, based on client needs.
• Experience in working on teams and influencing diverse resources and stakeholders.

Skills:

• Fluent German (written and spoken)
• Excellent relationship building skills
• Able to work as part of a team
• Strong communication skills
• Influencing Skills / Persuasiveness
• Thrives in a business development environment
• Strong IT skills including Excel and Word
• Creative and innovative
• Able to multi-task and prioritise
• Strong awareness of risk and compliance