Dallas, TX -- (SBWire) -- 08/13/2010 -- ReportsandReports announce it will carry Strategies for Keeping and Motivating Relationship Managers Market Research Report in its Store.
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Introduction
The easy and profitable relationships that private bankers enjoyed with their clients and employers before the crisis are no longer. Indeed, the job of a relationship manager (RM) has just become much harder. Banks need to understand these changes and what RMs are now looking for from employers, in order to identify the best ways of retaining and motivating their private bankers.
Scope
• This report incorporates results from Datamonitor’s Wealth Management Market Leader’s Survey of 2010.
• This survey involved interviews with 160 wealth managers across Europe and 84 wealth managers in Asia Pacific during January and February 2010.
Highlights
The balance of negotiating power within the industry has swung fundamentally away from RMs and back towards the private banks, and modest earnings increases and additional management pressure are now the order of the day for RMs.
Private banks identify that there are a number of non-financial factors that today’s RMs want from their employers including good quality management and back-end support and recognition.
Given RMs’ changed circumstances and needs, Datamonitor proposes three recommendations which many, if not most, wealth managers should follow in order to both keep and motivate RMs; one of these is putting in place formal career development programs for RMs.
Reasons to Purchase
• Understand the outlook for RMs earnings in 2010 across multiple European and Asia Pacific countries.
• Find out what RMs want from their employers across the surveyed countries.
• Access Datamonitor's best ideas on how to retain and motivate RMs.
Table of Content
Overview
Catalyst
Summary
Methodology
Executive Summary
The world that relationship managers inhabit has changed dramatically
Wealth managers realize that non-financial factors are important to their bankers
Table of Contents
Table of figures
Table of tables
The Changed Circumstances of Relationship Managers
The world that relationship managers inhabit has changed dramatically
The majority of banks in Europe and Asia Pacific are still focused on retention rather than attracting RMs
The expectation is that the average salary for RMs will increase only modestly in 2010
How Wealth Managers can Keep and Motivate Relationship Managers
Wealth managers are attempting to improve RM retention and realize that non-financial factors are important to bankers
Private banks have been trying everything from forgivable loans to promoting work-life balance to help retain and motivate staff
Wealth managers recognize that a number of non-pay factors need to be addressed to successfully retain RMs
In many countries in APAC,non-financial factors are particularly important in retaining RMs
In many European countries,basic pay is at the forefront of RMs' minds
Datamonitor highlights three areas which are key to keeping and motivating RMs now
Key recommendation: put in place formal career development programs for RMs
Key recommendation: teach management the importance of communication
Key recommendation: seek to bolster banking brands
Appendix
Methodology
Wealth Management Market Leaders Survey 2010
Bibliography
Further reading
Ask the analyst
Datamonitor consulting
Disclaimer
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Strategies for Keeping and Motivating Relationship Managers Now Available at ReportsandReports
The easy and profitable relationships that private bankers enjoyed with their clients and employers before the crisis are no longer.