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When I went to the bank , I was introduced by a staff to another woman who addressed her as a private banker. As I don't understand the term private banker clearly, below are my few questions.

1) What is private banker?

2) What are their main responsibilities and daily tasks?

3) Are they official staffs of the bank?

4) if not, how they work with the bank?

5) Other need to know tips

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Which country did this occur in? – Dilip Sarwate Sep 1 '12 at 13:11
OP is in Singapore, I added to the tags, he can change if he's moved since signing up or had this experience elsewhere. – JoeTaxpayer Sep 1 '12 at 14:25
yes Singapore. Thanks Joe. – kitokid Sep 2 '12 at 0:34

2 Answers

up vote 1 down vote

Private Banker as Official Staff of the Bank.
They are typically assigned to High Net Worth individuals.
They are responsible for any and everything that a customer needs more like Personal Banker, so that for all your needs you just need to contact him/her and they would in turn get things done for you from different groups within the Bank.

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2  
So, a bit higher level of attention and customer service? – JoeTaxpayer Sep 1 '12 at 18:57
or a marketing gimmick – Paul Sep 5 '12 at 3:09
up vote 0 down vote

In addition to the difference pointed out by Dheer (see also this Wikipedia link), another meaning is that Private Bankers are those people on the bank staff who deal with personal accounts and people who wish to deposit money in the bank, while the people who use the deposits to loan money to businesses, underwrite bond issues etc are called Investment Bankers or sometimes Merchant Bankers since these staff members deal primarily with merchants, or invest the bank's deposits in various ways.

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