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EFG on the hunt for more relationship managers

By NexChange
Wealth Management

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Despite predictions by fintechies that robo-advisors will eventually dominate the wealth management industry, there is still big demand for human advice.

Swiss private bank EFG International plans to hire seven more relationship managers (RM) in Asia by the end of the year, Albert Chiu, EFF Asia CEO told Asian Private Banker. (paywall) The priority is to find people with strong, extensive networks among China's new rich.

"We continue to see a very strong pipeline of senior RM candidates, and are confident to grow our numbers of senior bankers in the region," said Chiu, who has a year-end target of 115 RMs.

That's great news for individual bankers and their own personal wealth. A shortage of talent is a common complaint in the industry, so well-connected RMs can play a rather lucrative game of musical chairs.

Photo: Vincent Wong

 

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