Understand the Role of a Private Banker

The banking industry is large and bankers working in this industry play a very important role in the life of the customers. The customers in the banking industry range from common people to business tycoons to well-known personalities and amateur entrepreneurs. When talking about the private banker; he or she is responsible to provide a detailed analysis on a company’s or individual financial conditions and makes references based on particular investment, charitable objectives and estate planning. Private bankers are usually hired by large financial institutions.

Job Responsibilities of Private Banker:

  • The most important responsibility of a private banker is to manage the financial circumstances of the client with an emphasis on sustaining a strong relation between the bank and the client.
  • He or she is responsible to manage the complex financial matters of the client by evaluating their present financial situation. This includes obtaining information about total assets, such as business interests and property, the value of all investment portfolios and balances of bank accounts. In addition to this, a private banker is responsible for the debt obligations and personal financial goals of the clients.
  • Work along with the clients to meet their financial goals and needs and proactively consult and advise with the clients, clarifying the types of available financial services, instructing them about potential risks and investment options.
  • Monitor the functioning of client accounts closely, to make certain that the accounts are performing in an optimistic way and are meeting the needs of the client. Moreover, a private banker needs to be conscious about the objectives of the customer, revenue and expenditure to manage the portfolio.
  • In order to offer the best possible facility, a Private Bankers is always well versed of market conditions and do lots of investigation to ensure good opportunities to meet private banking revenue objectives.

    In addition, the banker keeps up-to-date with market updates and financial news. He must also maintain understanding and knowledge of suitable lawmaking and rules that affect customer interaction and banking to make sure that all transactions are legitimate.

Mr. Bob Stefanowski has several years of experience in Retail, Commercial, Private Equity and Private Banking. He is a business leader who has worked in several well-known companies and has proved his potential in every designation in which he has worked.

At present Bob Stefanowski is working with DFC Global, A Lone Star Company as the CEO. Before this, he has worked as the Chairman-North America at 3i Group PLC, and Managing Partner and Chairman at 3i Growth Capital. He has been the member of 3i’s leadership team and is accountable for the growth of 3i’s investment plan across Asia and North America. In addition to this, he is also the leader of the 3i Financial Services sector team. Before his spell in 3i, he has been associated with General Electric (GE) and has been designated in different job roles. In addition to this, he has served PricewaterhouseCoopers in public accounting and as a Managing Director for a Fortune 500 services firm and a litigation consultant with Freeman & Mills.