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Key Responsibilities and Required Skills for Director of Private Banking

💰 $ - $

FinanceWealth ManagementBankingExecutive

🎯 Role Definition

The Director of Private Banking is a senior leader responsible for shaping and executing the private banking strategy, driving revenue and assets under management (AUM) growth, and delivering holistic wealth solutions to high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients. This role is accountable for client relationship management, cross-sell of investment and credit products, portfolio oversight, risk and compliance adherence, and building a client-centric private banking team. The Director partners with investment, credit, trust & estate, tax, and product teams to design bespoke solutions and ensure exceptional service and retention.

Key SEO / LLM phrases included: Director of Private Banking, private banking director, wealth management, AUM growth, HNW/UHNW client management, private banking operations, cross-border banking, portfolio management, regulatory compliance, credit and lending for private clients.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Senior Private Banker / Senior Relationship Manager (Wealth Management)
  • Head of Client Coverage / Family Office Relationship Lead
  • Regional Head of Wealth or Team Lead in Private Banking

Advancement To:

  • Head of Private Banking / Regional Head of Wealth Management
  • Chief Wealth Officer / Head of Global Private Bank
  • Executive Director / Managing Director - Wealth

Lateral Moves:

  • Head of Relationship Management
  • Director, Client Solutions & Advisory
  • Head of Ultra-High-Net-Worth (UHNW) Coverage

Core Responsibilities

Primary Functions

  • Own the private banking business line strategy in the assigned region by defining target client segments (HNW and UHNW), establishing growth targets for AUM and revenue, and implementing a multi-year plan to acquire and deepen client relationships.
  • Lead business development to identify, qualify and convert new private banking relationships, leveraging referral networks, centers of influence, family office introductions, and joint initiatives with investment banking and advisory teams.
  • Serve as the senior relationship manager for top-tier clients, delivering bespoke wealth plans, coordinating cross-functional delivery with investments, lending, trust and estates, tax advisory, and philanthropy advisors, and ensuring a single cohesive client experience.
  • Drive AUM growth and retention through proactive portfolio oversight, client reviews, performance reporting, and personalized investment strategies aligned with client objectives, liquidity needs, and risk tolerances.
  • Build, coach and manage a high-performing private banking team including relationship managers, portfolio specialists, credit officers, and client service professionals; set KPIs, run performance reviews, and develop succession plans.
  • Design and implement coordinated credit and lending solutions for private clients, including securities-based lending, bespoke financing, residential and commercial mortgages, and structured lending wrapped with appropriate risk controls and covenants.
  • Partner with investment research, portfolio management and discretionary mandate teams to develop tailored asset allocation, alternative investments and tax-efficient strategies for high-net-worth clients.
  • Oversee client onboarding and KYC/AML processes for private banking clients, ensuring robust documentation, enhanced due diligence for cross-border clients, politically exposed persons (PEPs) and complex structures like trusts and SPVs.
  • Ensure strict adherence to all regulatory, compliance and risk frameworks (local and cross-border), working closely with compliance, legal and risk teams to address regulatory changes, audits and examinations.
  • Manage the pricing and profitability framework for private banking relationships by setting fee schedules, credit pricing, and fee-for-service advisory offerings, while monitoring margin and revenue drivers.
  • Lead cross-functional initiatives to enhance client experience and digital engagement, liaising with product, digital, and operations teams to introduce digital reporting, secure messaging, e-signatures and seamless client onboarding flows.
  • Establish and maintain performance measurement dashboards and reporting for AUM, new asset acquisition, client attrition, product penetration and revenue by client segment to inform executive decision-making.
  • Drive product and proposition development for private clients – including trust & estate solutions, family office services, succession planning, legacy planning, philanthropic advisory and bespoke investment vehicles.
  • Negotiate and manage strategic partnerships with external asset managers, trust companies, tax advisors, family office service providers and alternative investment managers to broaden client solutions.
  • Oversee complex account structuring for international and multi-jurisdictional clients, coordinating with tax and legal to ensure efficient ownership structures and minimizing regulatory friction.
  • Represent the bank externally at client events, industry conferences, and high-touch networking opportunities to elevate the private banking brand and attract prospective clients and referral sources.
  • Control operational and reputational risk by enforcing best practices in data security, custody arrangements, trade settlement, and third-party vendor oversight for client-facing services.
  • Develop and deliver regular board and executive-level updates on private banking performance, strategic initiatives, market trends and material client issues, providing recommendations and mitigations.
  • Set and monitor client segmentation, service models and coverage frameworks to allocate senior relationship resources efficiently and ensure the highest touch for priority HNW/UHNW clients.
  • Lead pricing negotiations, credit approval escalations and exception requests for flagship clients while ensuring appropriate governance and credit risk controls are in place.
  • Champion diversity, equity and inclusion within the private banking organization and proactively mentor rising talent to ensure a strong pipeline of client-facing leaders.
  • Coordinate crisis response and escalation protocols for client-facing incidents, ensuring timely communication, remediation and preservation of client trust.

Secondary Functions

  • Collaborate with marketing and communications to design targeted events, thought leadership, and bespoke client forums tailored to HNW/UHNW client interests and market themes.
  • Support technology transformation projects by providing subject-matter expertise on private banking requirements, client journeys and adoption barriers.
  • Mentor relationship managers on best-practice prospecting, advisory techniques, negotiation strategies and compliance obligations.
  • Conduct periodic competitive benchmarking and market analysis to refine value propositions and identify new product opportunities for private clients.
  • Work with operations to streamline onboarding, account maintenance and reporting processes, reducing time-to-revenue and improving client satisfaction.
  • Assist in developing training programs around complex product offerings, lending solutions, trusts, and cross-border wealth planning for the broader wealth team.
  • Participate in due diligence for partnerships with fintechs, data providers and alternative investment platforms that expand client capabilities and enhance service delivery.

Required Skills & Competencies

Hard Skills (Technical)

  • Private banking relationship management and client acquisition for HNW and UHNW individuals and families.
  • Deep knowledge of wealth management products: discretionary & advisory portfolios, managed accounts, mutual funds, ETFs, alternatives, structured products and SMAs.
  • Expertise in credit and lending solutions for private clients: securities-based lending, bespoke credit facilities, mortgages and Lombard lending.
  • Trusts, estates, family governance, succession planning and familiarity with multi-jurisdictional structures (trusts, foundations, SPVs).
  • Strong understanding of regulatory and compliance frameworks: KYC/AML, FATCA/CRS, PEP screening, GDPR and local banking regulations.
  • Investment portfolio construction, asset allocation, risk profiling and performance attribution.
  • Financial statement analysis, tax-aware planning principles and cross-border tax considerations for wealthy clients.
  • Experience with CRM systems (Salesforce, Microsoft Dynamics), portfolio management systems, reporting tools and digital client platforms.
  • Advanced Excel modeling, financial analysis and proficiency with investment analytics and reporting tools.
  • Track record of building and executing business plans, P&L management and performance metric ownership.
  • Familiarity with alternative investments, private equity, real estate investments and direct investment due diligence.
  • Proficiency in multi-currency cash management, foreign exchange risk management and cross-border payment solutions.
  • Experience overseeing outsourcing, custody relationships and third-party vendor management for client services.

Soft Skills

  • Executive-level client engagement skills with the ability to manage complex, multi-stakeholder relationships and sensitive family dynamics.
  • Strategic thinker with strong commercial acumen and demonstrated ability to translate strategy into tangible revenue and AUM growth.
  • Leadership and people development skills: coaching, mentoring, performance management and succession planning.
  • Excellent communication and presentation skills for client pitches, board reporting and cross-functional influence.
  • Strong negotiation skills and presence to manage pricing, credit terms and partnership agreements.
  • High integrity, discretion, and commitment to client confidentiality and fiduciary responsibility.
  • Problem-solving mindset, decisiveness and ability to perform under pressure in high-stakes client situations.
  • Entrepreneurial drive, resilience and a results-oriented approach to sales and business development.
  • Collaborative orientation to work effectively across product, investment, legal and compliance teams.
  • Cultural sensitivity and ability to work with international clients and multi-jurisdictional teams.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor’s degree in Finance, Economics, Business, Accounting or related field.

Preferred Education:

  • Master’s degree (MBA, MSc Finance) or professional qualifications such as CFA, CAIA, CFP, or relevant legal/tax credentials.
  • Executive education in wealth and family office management is a plus.

Relevant Fields of Study:

  • Finance
  • Economics
  • Accounting
  • Business Administration
  • Law (for trust and estate expertise)
  • Taxation / Wealth Management

Experience Requirements

Typical Experience Range:

  • 10–20+ years in private banking, wealth management or related financial services, with at least 5 years in senior relationship coverage or leadership roles.

Preferred:

  • 12+ years of progressive private banking experience managing HNW/UHNW client portfolios and leading teams, with demonstrable track record of AUM growth, cross-sell success and adherence to compliance and risk standards. Experience in cross-border/private client advisory, family offices and multi-jurisdictional structuring is highly desirable.
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