Director, Private Banking - Emiratized Role

Role Overview

Director, Private Banking – Emiratized Role at First Abu Dhabi Bank (FAB). This role is based in the UAE and focuses on developing private banking business across diverse markets and regions for private clients, family offices of ultra-high-net-worth individuals (UHNWI) and high-net-worth individuals (HNWI), with exposure to offshore and onshore locations across multiple booking centers.

Company Overview

First Abu Dhabi Bank is the largest bank in the UAE and one of the world's largest and safest financial institutions. FAB offers a comprehensive range of personal and private banking services, including credit cards, Islamic banking, investments, loans, and mortgages. The organization is committed to excellence and innovation, providing top-tier financial solutions to clients globally. FAB has structured plans for the recruitment and career progression of Emirati talent to enable them to make a mark in the financial and banking sector both regionally and globally.

Role Purpose

Develop business across all areas of private banking by building and managing a portfolio of UHNWI and HNWI clients, delivering superior sales revenues and assets under management (AUMs) above predetermined targets while increasing FAB's market share. The role combines business development and relationship management with sophisticated investment solutions and 24/7 client service across onshore and offshore locations.

Key Responsibilities

Business Development & Client Acquisition

• Develop and maintain a client base of HNWI and UHNWI, providing excellent service to develop net new business for the group and obtain or maintain business via referrals and recommendations.
• Develop new business through own sources, existing professional connections, and introductions via the bank with strong interpersonal skills.
• Demonstrate both "Hunting" and "Farming" capabilities to ultimately deliver AUMs and revenue streams based on sophisticated and tailored private banking platform offerings.
• Identify and segment target markets, develop business to widen portfolios, and implement the strategic and marketing plan for Private Banking.
• Identify target markets, develop new business, increase wallet share of existing clients, and implement the annual marketing plan.
• Identify new market segments and develop that business to widen the Bank's portfolio offering and increase profitable revenues.
• Maintain and expand current and future client base, acquire net new business via referrals, contacts, and marketing.
• Develop new investment relationships and attract new key clients to FAB.
• Develop the private client side of FAB's key strategic clients' segment (e.g., Directors of Multinational as well as UAE/GCC/Sub-Continent diaspora-based companies).
• Spot opportunities externally and from within the Group.

Relationship Management

• Build and manage a portfolio of UHNWI and HNWI clients, providing maximum personalized services.
• Develop and maintain strong relationships with decision makers in key positions and turn relationships into sources of referral (inwards and outwards).
• Build excellent relationships with a HNW client base by providing excellent service to obtain business referrals.
• Convert prospects into clients.
• Provide advice and ultra-high-level solutions and service 24/7, 365 days of the year regardless of being in the office, on vacation, or on an international business trip.
• Maintain optimum level of relationships after a period of four years.
• Attend networking events to attract new clients, develop current base, and maintain close contact with existing clients to keep them informed about market developments.

Client Service & Portfolio Management

• Provide clients with an above-optimum level of service and full investment solutions.
• Assess prospects with the aim of converting to clients by a full vetting and due diligence process addressing issues connected with PEPs, OFAC, AML, and including KYC to international standards.
• Assess financial needs, risk tolerances and appetite, and develop optimal investment solutions.
• Ensure clients' relationships are monitored and maintained by completing and updating all reports which include KYC, regular Call Reports, Leverage/Lending related issues, interest charges paid on time, maturities, etc.
• Ensure clients' portfolios are regularly screened for proper diversification unless the client specifically requests otherwise.
• Maintain a designated list of clients' portfolios.
• Manage prospects' due diligence and ensure clients' portfolios are screened for required compliance as well as performance by diversification of investments to meet clients' needs present and future.

Product Development & Marketing

• Promote the three main businesses of Private Banking, marketing, and business development to clients for both Offshore (Switzerland) and Onshore (UAE).
• Proactively enhance Private Banking offerings (Group and/or Open Architecture) by initiating and supporting internal processes and workflows.
• Solicit business primarily, but not limited to the disciplines of the trilogy of Private Banking (Banking, Fiduciary (Wealth Protection such as Trusts, Foundations, Offshore Companies etc.), Portfolio Management (Execution only, Advisory, and Discretionary)) but also includes examples such as derivatives (e.g., Dual Currency Deposits, esoteric funds (aircraft operating leases, mezzanine debt, etc.)).
• 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, etc.
• Participate in product development and marketing if and when required (some roles involve deep and active involvement with colleagues in items such as Hold Mail and Bills Discounting).
• Initiate pro-actively solutions, sales, and market initiatives.
• Participate with others in product development and marketing.
• Ability to participate in product development (e.g., Hold Mail, Bills Discounting) and the ability to market and transact these.
• Think and mastermind "Out of Box" bespoke solutions for clients who require esoteric tailor-made solutions.

Cross-Selling & Coordination

• Coordinate and promote prospects and business with other Relationship Managers as well as other Group coordinates Globally.
• Promote cross-selling between Group branches/offices in the Gulf and elsewhere Globally.

Project & Operations Management

• Manage specific projects End to End and 360 Degrees, including managing and liaising with other group colleagues.
• 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 basis (time needs) Relationship Manager support staff in respective Private Banking Unit office, liaising with Middle office, Back offices, RMD, ACD, etc.
• Maintain MIS portion relating to the individual.

Strategy & Leadership

• Contribute directly to the strategy, direction, and business planning of the Geneva and Jersey subsidiaries.
• Provide vision, direction, and motivation jointly with colleagues in the relationship team in providing service excellence to all HNW clients.
• Manage the performance and development of direct reports by demonstrating leadership skills in objective setting, performance feedback, coaching, and personal development.
• Plan, organize, and allocate client resources effectively.
• Work cohesively with FMD, ADFS, AMG, ADNIF, ADPML, Relationship Manager support functions, Private Banking Unit middle office, Group back office, audit, compliance, and risk management.
• Opportunity spotting – possess skills to identify, explore, and transact new market segments and develop the business to widen the private bank's portfolio offering.

Additional Duties

• All other tasks as reasonably and unreasonably requested.

Qualifications & Experience

• Track record of excellent academic performance from a reputable university.
• At least five years' experience as an "industry hand" in private banking coupled with experience in other banking environments and investment companies.
• Experience in leadership.
• Preferred background in business, economics, marketing, and/or a MBA or accountancy/finance background.
• Experienced problem solver with decision-making capability.

Skills & Competencies

Knowledge & Expertise

• 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 base 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 (e.g., Switzerland, UK, US, Jersey, Cayman Islands, BVI, and free zones domiciled in the UAE/GCC).
• In-depth knowledge of all retail, corporate, and treasury-based investment banking products (vanilla and derivatives) both within Private Banking and across other banking divisions.
• Ability to closely follow the financial markets and use broad knowledge of various investment vehicles to provide holistic advice to clients.
• Extensive knowledge of the local and