«We are currently looking to hire more front office staff,» Swiss Private Banker Evrard Bordier says in an interview with finews.asia. In particular, he is looking for relationship managers who are entrepreneurial.
Bordier & Cie is co-hosting an afterwork event on the 19th May 2016 in Singapore. This exclusive gathering will be held in partnership with the financial community platform E-merging and finews.asia.
Mr. Bordier, why did your bank decide to open an office in Singapore in 2011?
We wanted to expand our reach and Asian footprint. While the booking location for assets may not be relevant to growing a private banking business, the client servicing that goes behind booking and checking these assets has to be top notch at all times.
We needed to better service our Asia-based clients and wanted to be in similar time zones. So we saw a need and a great opportunity to be in Asia. We officially opened our Asian headquarters in February 2011.
Have your expectations been matched so far?
Yes they have, though it’s not a walk in the park at all. Indeed, we are very grateful to be in Asia – it has been an exciting challenge and we are continuously sharpening our Asian strategy.
What were the biggest obstacles, what were the best positive surprises?
Some of the biggest obstacles include navigating increased regulation and cross-border transitions for our clients, as well as adapting to breakneck changes of the private banking landscape in Asia. On the other hand, I am inspired by Singapore's approach towards innovation and entrepreneurship.
What kind of clientele are you looking for?
We look for clients who fit our business model and philosophy. Our ideal client values the work we do for them and is willing to pay what we are worth for doing it.
Can you give us some facts and figures about your activities in Asia?
Due to regulatory reasons, we cannot disclose the numbers. From a boutique perspective, the standard metric used to measure a private bank’s growth does not apply to us as profitability is not our primary objective. Our allegiance is to quality and unbiased investment advice for our clients.
Are you looking for more personnel? If yes, what is the ideal profile?
We are currently looking to hire more front office staff. In particular, we look for relationship managers who are entrepreneurial.
How have you been affected by the crumbling markets in the beginning of 2016?
We are unaffected by the markets. Though we do follow market trends, we use derivatives to hedge our positions. Clients are happy with our conservative strategy, we do not invest aggressively.
What are your next steps plans – this year and on a longer term?
We aim to be the best boutique private bank in Asia. It's hard work and we are determined to reach our goal.
The three partners, Grégoire and Evrard Bordier (5th generation of the Bordier family) as well as Michel Juvet, are personally responsible for running the bank. They validate strategic positions and assume the role of leaders and owners.
