„Every bank needs hunters and farmers“

On May 10, 2017, Raiffeisen Private Banking Team Leader Mag. Anna Katharina Marx, EFA®, visited the BFC16 class as part of the Banking Products and Services course taught by Ing. Mag. Robert Kotal CFP®EFA. LBS students had the unique opportunity to gain insights into the daily business of Raiffeisen Private Banking and learn about satisfying clients with high levels of income or sizable assets.

Mag. Marx explained that Private Banking at Raiffeisen is divided into 3 client profiles: private individuals, professionals, and international clients. She specializes in advising professionals such as doctors, dentists, lawyers, etc. Two main pillars of private banking are security asset management and financing (e.g. mortgage loans).

Mag. Marx at LBS

Mag. Marx EFA® and Ing. Mag. Robert Kotal CFP® EFA® with the BFC16 class

What does it take to be a private banker?

Our visitor explains, “You need to like people, you need to be approachable and able to build long-lasting relationships based on trust. The most important skills are communication skills, listening, empathy and intercultural knowledge when dealing with international clients. Furthermore, networking and recommendations are extremely important for acquiring new clients. People excelling in this are ‘hunters’, however no bank can survive without the ‘farmers’.”

Within the framework of Ing. Mag. Kotal’s course, BFC students could clearly see the difference between retail banking and private banking. Stability, excellent service, approachability and location independence are some of the qualities private banking needs to offer.

Lauder Business School is always happy to welcome industry experts willing to share their experience with our students!