With more than 27% of South Africa’s banking customers being privately banked;
competition amongst private banks for quality clientele has increased. The question
that arise as to: What sets apart that right candidate from the rest? “What are these
private banks competing for?” This is true across the globe. The aim of this study was
to determine what the characteristics are that make a successful Private Banker.
Personal interviews of a sample of 30 individuals within a private banking institution
were conducted in order to get closer to the answers as per research question. A
probability sample of 30 bankers was drawn from a private banking institution in
Durban, KwaZulu-Natal, with a population size of 34 private bankers. The sample
was composed of 30% males and 70% females. Of the sample, 93% were private
bankers and 7% were Human Resources and Regional Management. The majority of
the sample (66%) had been with the private bank for more than 12 months. The
institution was chosen because of the easy access to information and the respondents
for this research study. Data was collected using a questionnaire developed for this
research. The analysis revealed that a banker aiming to succeed in private banking
will have a Bachelor of Commerce degree or similar qualification with Finance or
Banking as a major. This is important because private banking is a financial
profession in a banking environment. The study has also shown that experience is not
a factor in one’s ability or inability to secure referrals. A banker that is committed to
giving exceptional service over a period of time and instils trust and confidence in a
client will be entrusted with access to a client’s circle of association. The research and
its recommendations add much needed clarity concerning recruitment of prospective
private bankers to ensure they are successful in their roles. The recommendations are
practical and can be easily applied by the various stakeholders within the private
banking institution and by others wishing to join the sector. / MBA University of KwaZulu-Natal, Durban 2012.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:ukzn/oai:http://researchspace.ukzn.ac.za:10413/11245 |
| Date | January 2012 |
| Creators | Maubert, Nokukhanya Makhosazane. |
| Contributors | Bozas, Alec. |
| Source Sets | South African National ETD Portal |
| Language | en_ZA |
| Detected Language | English |
| Type | Thesis |
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