Director, Private Banking

Role Overview

Director, Private Banking at First Abu Dhabi Bank (FAB), based in the United Arab Emirates. The role focuses on developing private banking business across diverse markets and regions, serving ultra-high net worth individuals (UHNWI) and high net worth individuals (HNWI), including family offices across multiple offshore and onshore booking centers.

Role Purpose

To develop and manage a portfolio of UHNWI and HNWI clients, deliver superior sales revenues and assets under management above predetermined targets, increase FAB's market share, and provide clients with optimum-level service and comprehensive investment solutions across Private Banking's three core disciplines: Banking, Fiduciary services, and Portfolio Management.

Key Responsibilities

Business Development & Client Acquisition

• Maintain and develop a client base of HNWI and UHNWI, providing excellent service to generate net new business and obtain/maintain business via referrals and recommendations within the Group.
• Develop new business through own sources, existing professional connections, and introductions via the bank using strong interpersonal skills.
• Identify and spot opportunities externally and from within the Group.
• Develop and maintain strong relationships with decision makers in key positions and convert relationships into sources of referral, both inward and outward.
• Identify target markets, develop new business, increase wallet share of existing clients, and implement the annual marketing plan.
• Develop new investment relationships and attract new key clients to FAB.
• Develop the private client side of FAB's key strategic clients' segment, including Directors of Multinational companies and UAE/GCC/Sub-Continent diaspora-based companies.
• Assess prospects with the aim of converting them to clients through a full vetting and due diligence process addressing PEPs, OFAC, AML, and KYC requirements to international standards.

Product & Service Delivery

• Promote the three main businesses of Private Banking, marketing, and business development to clients for both Offshore (Switzerland) and Onshore (UAE) locations.
• Solicit business across the trilogy of Private Banking disciplines: Banking, Fiduciary (Wealth Protection such as Trusts, Foundations, Offshore Companies), and Portfolio Management (Execution only, Advisory, and Discretionary).
• Include business opportunities such as derivatives (e.g., DCDs), esoteric funds (e.g., aircraft operating leases, mezzanine debt).
• Provide advice and ultra-high level of solutions and service 24/7, 365 days per year, regardless of being in the office, on vacation, or on an international business trip.
• Assess financial needs, risk tolerances and appetite, and develop optimal investment solutions.
• Ensure clients' portfolios are regularly screened for proper diversification, unless clients specifically request otherwise.
• Proactively enhance Private Banking's offerings (Group and/or Open Architecture) by initiating and supporting internal processes and workflows.
• Promote Private Banking's Open Architecture solutions on a case-by-case basis to serve clients' best needs and requirements.
• Cross-sell and promote all Investment Banking, FABS, GAM, ADNIF, and related products.

Relationship & Portfolio Management

• Manage specific projects end-to-end, including managing and liaising with other Group colleagues.
• Coordinate and promote prospects and business with other Relationship Managers and other Group coordinates globally.
• Promote cross-selling between Group branches and offices in the Gulf and globally.
• Maintain a designated list of clients' portfolios.
• Ensure clients' relationships are monitored and maintained by completing and updating all reports, including KYC, regular Call Reports, Leverage/Lending-related issues, interest charges paid on time, maturities.
• Maintain MIS portion relating to the individual.

Product Development & Initiatives

• Initiate proactively solutions, sales, and market initiatives.
• Participate with others in product development and marketing.
• Participate in product development and marketing if and when required.

Operational & Administrative

• Manage the respective Private Banking UAE office end-to-end for administrative purposes in the absence of the respective business heads on a rotational basis, as and when required.
• Manage on a partial (time needs) basis Relationship Manager support staff in the respective Private Banking Unit office, liaising with Middle Office, Back Office, RMD, ACD, and other departments.
• Complete all other tasks as reasonably and unreasonably requested.

Qualifications & Experience

Education & Background

• Track record of excellent academic performance from a reputable university.
• Preferably a background in business, economics, marketing, or an MBA or accountancy/finance background.

Professional Experience

• At least 5 years' experience as an "industry hand" in private banking coupled with experience in other banking environments and investment companies.
• Experience in leadership.
• Experienced problem solver with strong decision-making ability.

Skills & Competencies

Technical Knowledge

• Detailed knowledge of FAB policies, procedures, and processes including anti-money laundering requirements, OFAC, and know-your-customer requirements in relation to the international private banking market.
• In-depth knowledge of the trilogy of Private Banking disciplines: Banking, Investment/Portfolio Management, and Fiduciary (Wealth Protection via offshore trusts, companies, and foundations).
• Solid understanding of varied offshore jurisdictions including Switzerland, UK, US, Jersey, Cayman Islands, BVI, and free zones domiciled in the UAE and GCC.
• In-depth knowledge of all retail, corporate, and treasury-based investment banking products (vanilla and derivatives) within Private Banking and across other banking divisions.
• Ability to closely follow financial markets and use broad knowledge of various investment vehicles to provide holistic advice to clients.
• Extensive knowledge of the local and offshore marketplace and opportunities to grow profitable business.
• Excellent knowledge and understanding of best practice relationship management, business development, and marketing techniques in international private banking.
• Substantial knowledge of Corporate Banking as an offshoot/ancillary discipline within the Private Banking portfolio.

Professional & Soft Skills

• Excellent written and spoken English.
• Ability to work independently, develop professional long-term relationships, and establish an extensive network of potential and actual individual and corporate high net worth clients.
• Ability to build excellent relationships with a HNW client base by providing excellent service to obtain business referrals.
• Convert prospects into clients.
• Opportunity spotting—identify, explore, and transact new market segments and develop business to widen the private bank's portfolio of offerings.
• Identify new market segments and develop that business to widen the Bank's portfolio offering and increase profitable revenues.
• Ensure that client portfolios have required diversification in investments to meet each client's present and future needs.
• Assess each client's financial needs with integrity to ensure correct investment solutions are recommended.
• Participate in product development and market/transact these products.
• Think and mastermind out-of-box bespoke solutions for clients requiring esoteric tailor-made solutions.
• Manage prospects due diligence while ensuring clients' portfolios are screened for required compliance and performance by diversification of investments to meet clients' needs, present and future.
• React quickly and professionally to all client requests on a 24/7, 365-day basis, regardless of being present in office, on vacation, or on an international business trip.
• Strong relationship management and new/ongoing business development skills.

Languages

• Written and spoken English (mandatory).
• Arabic, French, Hindi, and/or Urdu (desirable), on a geographical needs basis.