Citi Head of Offshore Business Development in Bahamas, The
Primary Location: Bahamas
Education: Bachelor's Degree
Job Function: Bus Strategy, Planning & Admin
Shift: Day Job
Employee Status: Regular
Travel Time: No
Job ID: 16059369
Citi Private Bank is a trusted advisor to the world’s wealthiest, most influential individuals and families. Like Citi’s government, institutional and multinational corporate clients, Citi Private Bank clients receive bespoke service and access to the best ideas and solutions tailored to their unique needs and aspirations. A part of Citi’s Institutional Clients Group, Citi Private Bank offers a wide range of products and services covering capital markets, managed investments, portfolio management, trust and estate planning, investment finance and banking. Among its select clients are a third of the world’s billionaires, many of whom are globally minded entrepreneurs with an expectation of an institutional level of service, who take advantage of Citi’s holistic approach to wealth management.
Citi Private Bank is represented by more than 1,000 private bankers, investment professionals and product specialists across a network of 90 offices in 33 countries and over 128 currencies worldwide, making it the most global private bank.
The Head of Business Development for CPB Bahamas is a sales and relationship management position with primary responsibilities of acquiring and expanding new Ultra High Net Worth (UHNW) clients, Private Equity (PE) Principals and their Funds to Citi Private Bank Offshore US (Miami & NY) and Europe.
The Head of Business Development will introduce the UHNW client to the Citi Private Bank platform and subsequently refer the client to the correspondent offshore Bankers for servicing and deepening relationship by offering a wide array of financial services (including banking and investments) products according to client needs while protecting the bank and the client by complying with relevant policies, procedures, legal and regulatory framework.
The individual will be responsible for engaging prospects and deepening existing client relationships for Citi Private Bank (offshore in US, Europe and Latin America) sourced through the local Bahamas market.
Discuss Citi capabilities, services and general financial/economic topics with prospective clients in support of facilitating meetings with Bankers, ICs, Product Specialists, Management, etc. No discussion or recommendation of specific investment products will be made.
The individual will use his personal network / access to create contact opportunities. He would participate as needed in social gatherings, cultural events, conferences, marketing initiatives and other sourcing venues in order to expand his personal network with prospective clients and maximize their interest in CPB wealth management solutions.
The individual will be alert to business beyond Wealth Management such as CIB opportunities to expand into the region.
In partnership with David Poole and relevant GMMs, the individual would define a prospective list of targets and would create a plan / strategy to access them.
The individual will serve as interface between Citi Private Bank Offshore and CBL locally. He would proactively build relationships and alliances with local Citi Senior Officers to have access to common business and potential client referrals.
The individual will not be offering, selling or advising specifically on foreign securities / products. The individual will partner with and facilitate access to offshore Private Bankers so they can meet the clients and engage in managing their Wealth.
The individual needs to keep himself abreast of CPB Product Offering so he has an idea on general solutions to discuss with prospective clients when trying to engage them as clients of CPB.
The individual needs to develop local market / economic / regulatory knowledge to anticipate market/industry trends/changes in order to support the management of relationships as needed.
The person will develop an internal personal network within Citi and establish a strategic relationship with key players in each area. He will translate these contacts into accessible sources of general expertise to meet the needs/expectations of prospective clients
He will analyze and advise on the potential impacts that new products, services or procedures will have on the company’s ability to convert prospects into clients.
The individual may not engage in the intermediation of money or the receipt of funds from the public.
He will ensure compliance with relevant policies and procedures (both local and international), abiding by the legal and regulatory requirements covering, inter alia, license restrictions and OWS rules.
Bachelor’s Degree from a recognized University in Business or a related discipline.
10+ years banking and investments sales / advise experience in the High Net Worth and/or Ultra High Net Worth market segment
Extensive and proven experience in UHNW Private Banking or the institutional/corporate banking market
Demonstrated track record of actually growing portfolio and/or developing new business (i.e. sales and business development skills).
Extensive experience in working with and/or leading UHNW client teams and transactions
Strong background in investments, corporate finance, banking or related advisory services
Good product knowledge: capital markets, risk management, investment management, trust and estate planning would be an advantage
Proven success in building a new business, prospecting for new clients and business, identifying new business opportunities and closing transactions.
Extensive experience in integrating and balancing diverse priorities.
Extensive experience in selling new products, based on client needs.
Experience in working on teams and influencing diverse resources and stakeholders.
Strong leadership skills with excellent interpersonal and communication skills.
Strong sales and marketing skills.
Entrepreneurial skills a must.
Multi-year experience of giving investment advice.
Demonstrable track record of investment expertise.
Knowledge of investments, trusts and fiduciary services and, if possible, investment finance and banking.
High level of English proficiency required.
The successful candidate will be:
A self-starter, motivated, be able to operate individually, yet exhibit a strong team ethic to engage the prospects and clients with authorized Citi and third party partners for the sales and closing discussions.
He/She will be sociable and resourceful, working with Citi's marketing and events teams as well as Citi's O&T infrastructure to deliver client engagement.