One Group Of Bankers Is Still Getting PAID

Well-paid person smoking a cigar.

Photo: AP

One career that might be looking pretty good right now, as bonus fluctuations hit investment banking because of regulations, is private banking.Private bankers, people who manage accounts for clients, are still getting paid well right now.

“In private banking, competition remains hot for advisers who can bring in a good portfolio of clients, helping sustain pay,” James Fleming, head of international private banking at RBS unit Coutts & Co, said yesterday at the Reuters summit.

Also, at a time when there are so many concerns about banking stability and sovereign issues, there’s a bigger premium than ever on people who can make rich clients feel secure.

Besides more stable pay, the new Volcker Rule actually has a provision that might also push more banks to increase management of private accounts.

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