Credit Suisse plans to recruit 1,000 people for its private bank and wealth management unit over the next three years, it was announced on Wednesday.New chief executive Tidjane Thiam spilled the beans on the same day he said the Swiss bank would cut thousands of jobs in the UK, US and Switzerland as part of a three-year strategic plan.
“We want to be a leading private bank and wealth manager,” said the INSEAD MBA graduate.
He said Credit Suisse planned to slash 2,000 jobs in the US; between 1,600-2,000 in London, and 1,600 in Switzerland from its 48,000 global workforce.
Yet the announcement illustrates the wealth of potential MBA job opportunities opening up in private banking, as several of the top global banks retrench from their more risky investment banking activities. Both BNY Mellon and Bank of America have said they have increased wealth management headcount.
As well as at banks, “there are opportunities with small, boutique firms”, said Paula Quinton-Jones, director of career services at Hult International Business School.
Details of Credit Suisse’s recruitment plans were sparse. But documents published show the bank plans to hire 300 more relationship managers by 2018, a 25% increase on last year’s headcount, with 200 in emerging markets.
Patrick Lecomte, an executive director of the Advanced Master in Financial Techniques at ESSEC Business School, said: “Relationships are key in the private banking industry.”
Christelle Cuenin, assistant director of corporate partnership development at INSEAD, said there is high demand for talent to fill relationship management roles.
“For [private bank] investment professional roles, demand is steady but firms tend to look for experienced profiles — MBAs who were perhaps in a similar area prior to the program,” she added.
Student Reviews
The best intercultural university
There are more than 50 nationality in the grade, so there are opportunities to interact with people from all around the world. In terms of academics, the BBA course offers diverse courses for the 1st
Creativity, adaptability and entrepreneurship
The Master in Management program at the ESSEC Business School allows the students to choose their courses accordingly to their preferences and their professional targets. We can also go through international exchange and take part in internships with companies that are also partners with the school. The school is also next to the city of Paris.
Top business school in France
Doing PhD in essec took some time, to be precise about five years. But the experience was very good and cost effective too. There are opportunities for the student for teaching assistantship and that helps both financially and in career. In the final year I could manage to teach marketing to M1 students and this helped shape my career
Great college
The program is well suited for early professionals with an engineering degree preferably or a degree in economics. I would suggest taking the ceasure irrespective of the experience level as it helps you take your time to adjust to the job market.
Good school in France
I am currently enrolled in M2 in Essec business school. I am specialising in marketing management. The Grande Ecole programme is valued in France and my school ranks very high up. There are a lot of opportunities for internships and CDD.
The program curriculum
BBA program. The program is really practical and useful, provide us many international opportunities. Like internship and humanitarian experience, and the flexibility is also really cool, we can choose different campus and tracks as we want.
International Course
This school is very international and business oriented. Highly recognized by the companies The campus has been renovated and is very functional and modern from now on. Excellent atmosphere. Reputation of essec is a plus
Friends, Career opportunities.
The program I did gave me the opportunity to start in Singapore. I got the chance to know all the students that started there and we bonded and made some friends for life. The career opportunities that ESSEC also gave me were unbelievable.
Practical and useful
I think the best thing about Essec is that it's not focusing on academics rather it emphasizes on future job mindset and professional experiences..
The classes are interesting and we have plenty of workshops attributing to different sectors..
The campus is very nice with a good cafe and wonderful library.
The only problem is the location of the campus. It's quite far from Paris.
Amazing experience! Must try
I think its a very amazing school with great and experienced faculty. Also the alumni network is very solid and useful. The school has a great balance of studies and work experience which is really essential for a student.
