I'm interviewing for a position with Credit Suisse in private banking this week in Philadelphia. Have any of you interviewed/worked there? Is the interview technical or is it more of a personality fit?
Thanks!
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I'd like to ask the same question about UBS private wealth management, and how these two compare. thanks.
I interviewed with private banking in NYC. It was very heavy on fit and light on technical questions. Technical question went about as far as discussing different type of securities (equity, debt) and discussing current events in finance. Good Luck!
Bumpery
CS has PB in Philly?? Interesting. I am on Bloomberg right now looking at them. I would imagine PB is heavy on fit.
Conshy technically. I applied to a position on Monster.com and got a call from a recruiter. You could imagine my surprise when I heard her say CS.
CS PB is really good. By far one of the best in the world (only beaten by the likes of Lombard Odier).
Credit Suisse PB Analyst (Originally Posted: 11/22/2013)
Hello fellow monkeys. This is my firt post on WSO.
I'm wondering if anybody can chime in on the Private Banking Industry, specifically CS. There isn't much info about this on here.
From what I've researched, base pay seems to be about the same as IBD(65-75K), but with a much smaller bonus(10-15k). Hours seem to be somewhere from around 8am-9pm and no weekends.
What exactly does work look like as a PB Analyst or Associate? What's the compensation like as you move up/become high up? Does it usually head towards becoming a dicrector with your own set of clients and you own set of compensation(fee based)?
What kinds of exit opportunities are there? Do people usually stay within the industry or do people migrate to, say, PE?
Pay is about what you said in your post. As an analyst it depends on your team or product group. On the team side (i.e working with RMs, not in WMS) to start making serious money you need to become a RM and start accumulating AUM. The normal route for that is either going to B School (most common) or doing the TTRM Program at CS (less common). Both start you as a RM and then the sky's the limit comp wise. Generally speaking every 100m AUM =~250-300k comp
Exit ops are more limited but people move around within the bank as Analysts (IBD, S&T aren't very common but aren't unheard of either). Once you become a RM you don't really have much mobility aside from another bank buying your book and bringing you over.
Private Banking at CS (Originally Posted: 04/23/2008)
Just got an interview for this, but have no idea what it is, can someone help?
Private Wealth Management
http://en.wikipedia.org/wiki/Private_banking
The definition of Private Banking differs from firm to firm. It's similar to PWM, except I believe you deal with more sophisticated investment products/advise on a wider array of financial issues. Again, I'm not 100% sure.
PM me and I can give you more details.. I know a couple of people that work in CS Private Banking so I can get good details pretty quick for you.
Awesome that would be great, my interview is set for 4:15 tomorrow though, so you probably can't help me that fast haha.
you'd be surprised... let me know how it goes though, I'm sure I can pass that along to my friends and provide some insight via an intermediary.
Credit Suisse Private Banking - Trading community (Originally Posted: 08/30/2008)
Guys,
I posted this question on Asset Management forum and those lazy guys don't ever reply to anyhting...so thought i need to ask my own trading community. I was planning to drop resume for CS private banking. Would anybody please advise me on skill-sets i need to put on my resume and cover letter that CS Private Banking likes to see? Also how is Private Banking different from PWM at CS and what are the products and services CS is a leader in?
Thanks
lol, traders r even lazier
PM me with detailed questions as well as a bit about yourself and I'll ask my buddies at CS Wealth Management for you. One of my buddies there owes me a favor or two...
Credit Suisse Private Banking - More of the trader type (Originally Posted: 08/29/2008)
Hey Guys,
I am more of the trader types but was planning to drop resume for CS private banking. Would anybody please advise me on skill-sets i need to put on my resume and cover letter that CS Private Banking likes to see? Also how is Private Banking different from PWM at CS and what are the products and services CS is a leader in?
Thanks
Show youre well rounded. Finance knowledge isnt a big deal. You can read up on all that stuff. You cant learn personality or being approachable.
PWM might be higher net worth (if its similar to other banks) than Private Banking.
Any luck?
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