Managing Director, Financial Intermediaries Singapore (Private Banking focus)

Date: Sep 15, 2021

Location: Singapore, SG

Company: Capital Group

Embedded in Capital Group’s Asian and European Distribution team, the future position holder will be responsible for developing the group’s financial intermediaries business in Singapore – one of Capital’s priority markets outside the US. He/she will actively develop relationships with financial intermediaries across the wealth spectrum with a focus on private banks.  The Business Development Manager (BDM) is expected to generate business leads, win new clients and act as a key go-to person for prospective and existing financial intermediary clients in Singapore, supported by a team of two Business Development Associates (BDA), a senior Business Development Manager, and a senior Client Relations Associate. This person will report into the Head of Client Group, Singapore & Southeast Asia.

 

The BDM needs to be an energetic, hands-on business developer with a good understanding of the asset and wealth management industry in Singapore. He/she must have entrepreneurial drive and be motivated to build a business from the ground up, which already has strong momentum. You will join the team to accelerate our existing efforts in the PB space.

 

Primary responsibilities:

 

Strategic market planning

  • Develop a strategy to grow assets in Singapore’s financial intermediaries market with a focus on PBs
  • Assess business opportunities and prioritize target clients, e.g. tier 1 vs tier 2, GFI vs regionals, Singapore will have priority over SEA in the near to medium term
  • Identify investment strategies to focus on that clients in Asia will be attracted to
  • Contribute to developing formal business plans

 

 

Hands-on sales

  • Introduce Capital, generate prospecting meetings and build meaningful client relationships with gatekeepers, IC’s, banker team heads/key bankers, DPM, CIO, etc.
  • Identify areas of alignment between Capital and our clients’ needs
  • Drive sales and retain assets once funds are onboarded by conducting trainings, keeping gatekeepers updated as markets evolve, and differentiating against competing funds
  • Be creative in engaging the distributors with bespoke events/webinars for bankers or end clients and other value add services
  • Develop multi-faceted relationships, e.g. senior management, marketing, or financial planning teams
  • Engaging broader stakeholders in the sales process, e.g. Mercer, Morningstar, Allfunds Bank, 3rd party media agencies, PR/advertising
  • Collaborate with other BDMs, BDAs and internal departments (e.g. Marketing, Investment Services & Product, RFP team, L&C, investment professionals) to help you win business with clients
  • Proactively manage and resolve internal issues in a collaborative manner relating to winning business (e.g. resolving onboarding issues, expediting fee discussions)
  • Coordinate, and where necessary customize, materials for use with prospects to create interest and build relationships
  • Maintain information on prospects and target institutions and maintain critical management information about prospects and clients within the required CRM systems

 

 

Leadership and internal collaboration

  • Work closely as part of a collegial sales team in Singapore and Hong Kong that coordinate, share intel, and leverage best practices
  • Lead and develop our organization to become more effective and efficient across functions that magnify sales efforts
  • Mentor and direct client & internal work of BDAs to support your business development efforts
  • Coordinate with European and US-based sales and marketing teams committed to building and maintaining clients with a global footprint

 

 

Core competencies:

  • Action oriented: Readily takes action on challenges, without unnecessary planning. Identifies and seizes new opportunities. Displays a can-do attitude in good and bad times. Steps up to handle tough issues.
  • Drives results: Has a strong bottom-line orientation. Persists in accomplishing objectives despite obstacles and setbacks. Has a track record of exceeding goals successfully. Pushes self and helps others achieve results.
  • Builds networks: Builds strong formal and informal networks internally and externally. Maintains relationships across a variety of functions and locations. Draws upon multiple relationships to exchange ideas, resources, and know-how. High EQ.
  • Client focus (consultative approach): Gains insight into customer needs. Identifies opportunities that benefit the customer. Builds and delivers solutions that meet customer expectations. Establishes and maintains effective customer relationships.
  • Communicates effectively: Is effective in a variety of communication settings: one-on-one, small and large groups, or among diverse styles and position levels. Attentively listens to others. Adjusts to fit the audience and the message. Provides timely and helpful information to others across the organization. Encourages the open expression of diverse ideas and opinions.
  • Resourcefulness: Marshals resources to get things done. Orchestrates multiple activities simultaneously to accomplish a goal. Gets the most out of limited resources. Applies knowledge of internal structures, processes, and culture to resourcing efforts.
  • Collaborates: Works cooperatively with others across the organization to achieve shared objectives. Represents own interests while being fair to others and their areas. Partners with others to get work done. Credits others for their contributions and accomplishments. Gains trust and support of others.
  • Business insight: Demonstrates an in-depth knowledge of the investment and financial services industry in Singapore in terms of products, competitors, market practices, and trends.
  • Investment knowledge: Good level of investment knowledge of markets, macroeconomics and asset classes. Will be supported by a team of seven APAC Investment Specialists (many more global colleagues) and five APAC investment products and services associates (many more European colleagues).

 

 

Core requirements:

  • Demonstrates substantive relevant sales experience (at least 10 years), an established network and relationships with financial intermediaries, and a track record of generating business
  • Fluency in Mandarin a plus, since the role will be covering Singapore-based China banker teams.

 

 

Working conditions:

  • Some travel required within assigned sales territory (e.g. Southeast Asia or for client events)
  • COVID situation: Currently, flexibility to go into office and in due couse, a hybrid WFO/WFH with anchor days when all associates must be in office. Given fluidity, plans may change, however Capital Group is conservative in its working approach and puts the health and well-being of our associates as a top priority.


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