Business Development, Global Family Office
- Location: London, England, United Kingdom
- Salary: Competitive
- Job Type: Full time
Business Development, Global Family Office
Market Rate: £ Competitive
Application Open Date: 16th October 2018
Application Close Date: 15th November 2018
Global Family Office Group ("GFO") is a sales and client servicing team dedicated to supporting very wealthy families and their charities and foundations. Due to the significant wealth of these families, they operate more like institutions but require a personal and high touch approach, as well as the highest level of discretion. Our families wealth is mixed in nature with some being multi-generational inherited wealth and some being new entrepreneurial wealth. The GFO team services after over 450 families globally with an average asset size per family of $800m. We note some of the world's wealthiest individuals as our clients and are in a unique position to provide holistic solutions to support their ever evolving, global needs.
The Sales Manager will be responsible for positioning and delivering a range of institutional and private client solutions to UHNW families, family offices and other intermediaries with investable assets >$200 million within the Middle East region. They will seek and identify prospects predominantly through a well-constructed network of intermediaries, advisors and clients. It will be for the Sales Manager to oversee and diligently manage the development process from beginning to end including client identification, needs assessment, solution positioning, pricing/contracting and relationship transition. The Sales Manager will report to the GFO EMEA sales head.
The key responsibilities of the role include:
• Primary market responsibility - EMEA - Middle East region
• Target and seek out appropriate new business opportunities for Northern Trust per sales target
• Identify key industry contacts & build brand and capability awareness
• Liaise with GFO and EMEA partners to represent Northern Trust externally to source opportunities
• Requirement to travel to the Middle East region to visit prospects and professional advisors
• Work closely with Northern Trust's extensive Wealth Management, Asset Management and Institutional office network, along with key members of Northern Trust's Executive Management Group.
• Responds to questions, consulting internal partners for additional product/service information when necessary. Conducts additional prospect analysis to further determine services
• Collaborates with marketing team to complete RFPs etc. on time and in line with best practice and global branding
• Understands potential account assets to determine eligibility and qualifications ensuring all initial fact-find information and "Know Your Client/Know Your Business" checks have been performed and are on file
• Hands over prospect to Relationship team ensuring they have appropriate understanding and documentation. Maintain close contact during transition process to ensure smooth integration of new business.
• Supports Relationship teams with sales opportunities & cross-selling opportunities
• Maintains current in-depth knowledge of a full range of products and services
• Works with Product groups to ensure appropriate products and delivery for this client base
• Track activity on prospect list and document all activity consistent with best practice
The successful candidate will benefit from having:
• Proven business development experience with institutional size/ type Global Family Offices
Operated within and navigate large financial institutions, ensuring process and procedures are maintained/ actioned
• Proven track record of selling to Middle Eastern high net worth families
• Strong communication and negotiation skills
• Consultative - solutions based thinking
• Enthusiasm & self-motivation
• Competitor awareness
• Willingness to travel regularly - quarterly trips to the Middle East
The competencies that would be valuable for this role include:
• The ability to engage and motivate others
• Solution based style
• Strong commerciality
• Proven ability to sell to Middle East families
• Good written communication skills
• Knowledge of NT products & capabilities
About Northern Trust
For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,100 employees globally. We serve the world's most-sophisticated clients - from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.
We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.
Northern Trust proudly cultivates a diverse workforce, to serve our diverse client base. We strongly believe that diversity of experience contributes to a broader collective perspective that will consistently lead to a better company. We encourage applications from the best regardless of ethnicity, gender, gender identity, age, nationality, disability, sexual orientation, education, socio-economic background, parental and caring status, or religion.
As of June 30, 2018, Northern Trust Corporation had:
• $135 billion in banking assets
• $8.1 trillion in assets under custody
• $10.7 trillion in assets under custody/administration
• $1.1 trillion in assets under management