Position Overview
The Chief Private Banking Officer will lead the firm's private wealth business, driving the acquisition, development, and management of relationships with Institutions, Sovereigns, High-Net-Worth (HNW), Ultra-High-Net-Worth (UHNW) individuals, family offices.
The role is responsible for developing and executing the private wealth strategy, growing Assets Under Management (AUM), expanding distribution channels, and positioning the firm as a trusted advisor and investment partner across traditional and alternative investment solutions.
Key Responsibilities
Business Development & Capital Raising
- Lead fundraising initiatives targeting HNW, UHNW, family offices, sovereign entities, and institutional investors.
- Develop and execute strategic plans to grow client assets and increase AUM.
- Build and maintain a strong pipeline of prospective investors across Saudi Arabia, the GCC, and international markets.
- Identify new business opportunities and strategic partnerships to support growth objectives.
- Represent the firm at industry conferences, investor events, and networking forums.
- Develop referral networks with private banks, external asset managers, legal advisors, tax advisors, and family office consultants.
Client Relationship Management
- Serve as a senior relationship manager for key client relationships.
- Deliver a highly personalized client experience focused on long-term wealth preservation and growth.
- Understand client objectives, risk appetite, liquidity requirements, and succession planning needs.
- Lead regular client reviews and portfolio discussions.
- Ensure high levels of client satisfaction, retention, and wallet-share growth.
Investment Advisory & Product Distribution
- Collaborate with investment teams to position investment products effectively to clients.
- Support the development and launch of new investment products tailored to private wealth clients.
- Provide strategic input regarding product design, investor demand, and market trends.
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Educate clients on investment opportunities, portfolio construction, and market developments.
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Promote solutions across:
- Public Equities
- Fixed Income
- Structured Products
- Real Estate
- Private Credit
- Private Equity
Leadership & Team Management
- Build, lead, mentor, and develop a high-performing private wealth team.
- Establish performance standards and business development targets.
- Foster a culture of client excellence, collaboration, and accountability.
- Recruit and retain top-performing private bankers, relationship managers, and wealth advisors.
- Support succession planning and talent development initiatives.
Strategic Planning
- Develop and implement the firm's private wealth growth strategy.
- Establish annual business plans, budgets, and revenue targets.
- Monitor industry trends, competitive developments, and regulatory changes.
- Identify opportunities for geographic expansion and market penetration.
- Work closely with executive leadership to align private wealth initiatives with corporate objectives.
Regulatory & Risk Management
- Ensure compliance with all applicable regulatory requirements and internal policies.
- Maintain the highest standards of fiduciary responsibility and professional conduct.
- Partner with Compliance, Risk, Legal, and Operations teams to ensure robust governance.
- Ensure suitability and appropriateness requirements are met for all client recommendations.
Key Performance Indicators (KPIs)
- Net New Assets Raised
- Assets Under Management (AUM) Growth
- Revenue and Profitability Targets
- Client Acquisition and Retention Rates
- Cross-Selling and Product Penetration
- Family Office and UHNW Relationship Growth
- Team Productivity and Performance
- Client Satisfaction Scores
Qualifications
- Bachelor's degree in Finance, Economics, Business Administration, or related field.
- Master's degree (MBA) preferred.
- CFA, CAIA, CFP, CISI, or equivalent professional qualification preferred.
- Strong understanding of private markets, public markets, and wealth management solutions.
Experience Requirements
- 15+ years of experience in private banking, wealth management, asset management, or investment advisory.
- Demonstrated success raising capital from HNW, UHNW, family offices, and institutional investors.
- Established network of investors across Saudi Arabia and the GCC.
- Proven track record of growing AUM and generating revenue.
- Experience leading senior client-facing teams.
- Strong understanding of alternative investments and private market products.
Ideal Candidate Profile
The ideal candidate is a commercially driven wealth management leader with deep relationships across Saudi Arabia's private wealth ecosystem. They possess a strong fundraising track record, exceptional client relationship skills, and the ability to position sophisticated investment solutions to discerning investors. The individual combines strategic leadership with hands-on business development and is capable of building a market-leading private wealth franchise.
