I read in The Straits Times on Tuesday, July 24th, that 46 UBS wealth management trainees are in Singapore to attend a one-year, S$300,000 course on how to be a very good listener - one of the key attributes of a successful private banker.
This select bunch were handpicked from a massive field of 2,800 applicants. They include a former top-ranked Hongkong professional tennis player, a programme manager with the World Economic Forum in Geneva and a super-geek from Singapore, who gave up a S$150,000 a year job developing electronic payment systems to join the programme.
As part of their training, they will receive both classroom and on-the-job training in empathy (YES, EMPATHY), product knowledge and leadership skills in financial hubs such as Singapore and Switzerland. The cost of the course, fully paid by UBS, covers trainees' salaries accomodation, travel expenses and course fees.
According to UBS global wealth management chairman Raoul Weil, who was in Singapore to meet the trainees, successful private bankers must have both "a high emotional quotient (EQ) to relate effectively to the client and the IQ to offer him the best investment options".
The news article was headlined: Want to be a successful private banker? Listen well ..."
My guess is that if you want to be a successful anything, we need to listen well :)
So, it's great that bankers and businesses are picking up on this, and investing in it.
One of these days, some of us are going to make a lot of money simply teaching people how to listen well. Indeed, some of us already are, although indirectly ;)
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