Goldman Sachs hires Barclays MD for boring yet critical role
If you’ve ever bailed on a bank that’s days or weeks to get back to you about something its competitors would be able to do it hours, then you’ll be happy to know – Goldman Sachs is thinking of you.
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Steve Critchlow joined Goldman in London this week to be its head of client onboarding in EMEA. He joined the firm from Barclays in London, where he spent nearly 13 years and was most recently global head of client onboarding for its investment bank.
Client onboarding might seem like a boring job, but it’s a critical one. A failure to onboard clients quickly and effectively was an issue for Credit Suisse in Singapore back in 2022, meaning that its crown jewel wealth management platform in the region began to leak relationship managers. “Idealism and impracticality,” were what one insider at the firm blamed on the delays.
Presumably, Critchlow must be a practical realist. At Goldman he will be a crucial part of its goal, laid out in 2023, to "grind" its wallet share from its current model - servicing the bank's top 100 target clients - to servicing the top 150.
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