The private bank has a team of some 50 relationship managers, investment managers and portfolio, fiduciary, trust and estate officers. The relationship managers are referred to as private bankers and their primary job is to develop new relationships and become “an expert in the client.”
“In our model, a private banker is an individual who represents the totality of the capability of the private bank and they’re out there looking to develop new relationships,” FitzPatrick said. Though they may have expertise in an area of wealth management, “we want them to become an expert in the client and what the client needs and what the client is looking to accomplish,” he explained.
The bank has hired three such private bankers since October and plans to hire additional private bankers in 2013.
“Ours is a growth goal and that’s not just business but also jobs because we’re very much at the moment in a hiring mode,” FitzPatrick noted.