The main reason for relationship managers (RMs) leaving is that they have been ‘encouraged to do so‘ by the banks! Not very encouraging… And by the way, what do you mean by ‘underperformance‘?

The latest Global Private Banking and Wealth Management Survey has yielded some interesting (but long known?) results. Snippets of the report were reported on The Straits Times (Hunt for good private bankers is on) and The Business Times (RMs in S’pore, HK don’t stay in the job: PwC). Anecdotal evidence points to very high attrition rates for RMs. This has been highlighted by many different reports before. This latest one just confirms it. And the reason for the attrition rates? They have been told to, or in the report’s words, ‘encouraged’ to do so.

I cannot find any definition for ‘underperformance‘. But from my limited intelligence, ...