Business Development Manager in Wealth Management in a Major UAE-Based Bank

S.P.S People FZE; Dubai; On-site; AED 250,000 - 350,000; Full time

Job summary

A prominent UAE bank is seeking a Business Development Manager to drive growth in the Wealth Management division. This role is responsible for acquiring new clients, managing relationships, and implementing strategic business development strategies. Candidates should possess a Bachelor’s degree related to Finance or Business, and experience in wealth management is crucial. Ideal applicants will demonstrate strong interpersonal and communication skills, fluency in English, and have a solid understanding of local market regulations. Competitive compensation will be discussed with shortlisted candidates.

Benefits

Competitive compensation package

Qualifications

• Proven track record of success in business development within wealth management.
• Good understanding of wealth management products and services.
• Excellent communication and interpersonal skills.
• Strong analytical and problem-solving skills.
• Self-motivated and results-oriented.

Responsibilities

• Identify and target potential VIP clients for wealth management services.
• Build and maintain long-term relationships with clients.
• Conduct market research for emerging trends and competitor activities.
• Represent the bank at industry events to generate leads.
• Maintain records of client interactions and business activities.

Skills

Client Focus

Results Oriented

Strategic Thinking

Communication and Presentation Skills

Negotiation Skills

Education

Bachelor's degree in Finance, Business Administration, Economics or related field

Job description

Overview

Our client a major UAEbased bank is looking for successful and ambitious candidates for a position of Business Development Manager (BDM) in the Wealth Management division of the bank. This permanent role is based in Dubai United Arab Emirates and potential candidates shall be currently located in the United Arab Emirates; no relocation from other countries is possible for this role.

You will be responsible for driving growth in the wealth management business by identifying developing and acquiring new client relationships and expanding existing ones. You will play a crucial role in implementing the business development strategy building strong networks and promoting the banks wealth management offerings to potential VIP/wealth management customers of the bank including highnetworth individuals (HNWIs) and ultrahighnetworth individuals (UHNWIs).

Key Responsibilities

• New Client Acquisition
  • Identify and target potential VIP/wealth management clients through various channels including networking, referrals, social media, industry and other events and proactive outreach.
  • Develop and execute strategic plans to acquire new wealth management clients.
  • Conduct thorough needs analysis to understand clients financial goals, risk tolerance and investment preferences.
  • Present and articulate the banks wealth management solutions including various investment products, financial planning, insurance products and other wealth management products and services of the bank.
  • Manage the end-to-end client acquisition process from initial contact to successfully completed onboarding.
• Relationship Management & Growth
  • Build and maintain strong long-term relationships with new wealth management clients.
  • Act as a trusted advisor providing ongoing support and guidance to new wealth management clients.
  • Identify opportunities to deepen client relationships by offering additional products and services.
  • Stay informed about clients evolving financial situations and proactively recommend adjustments to their wealth management strategies.
• Market Analysis & Strategy
  • Conduct market research to identify emerging trends, competitor activities and potential client segments.
  • Contribute to the development and implementation of the banks overall wealth management business development strategy.
  • Provide feedback to the leadership of the wealth management team, wealth management relationship managers, product development team on market needs and opportunities for new or enhanced offerings.
• Networking & Partnerships
  • Develop and maintain a strong network of professional contacts including wealth management relationship managers, wealth product advisors, legal advisors and other potential referral sources within the bank for new wealth management clients.
  • Represent the bank at industry events, seminars and conferences to build brand awareness and generate leads.
  • Explore and establish strategic partnerships to expand the banks reach and client base.
• Business Development Reporting
  • Maintain accurate records of client interactions and sales/business development activities.
  • Prepare regular reports on business development efforts, pipeline and results.
  • Adhere to all regulatory requirements and internal policies of the bank related to wealth management activities.
• Collaboration
  • Work closely with relationship manager, wealth advisors and other internal stakeholders of the bank to deliver comprehensive wealth management solutions to new clients.
  • Participate in team meetings and contribute to a collaborative and supportive work environment.

Qualifications of a Successful Candidate

• Bachelors degree in Finance, Business Administration, Economics or a related field.
• Proven track record of success in business development and client acquisition within the wealth management or financial services industry.
• Good understanding of wealth management products and services including investment strategies, financial planning, principles and relevant regulations.
• Excellent communication, presentation and interpersonal skills with the ability to build rapport and trust with highnetworth individuals.
• Exceptional networking and relationship management abilities.
• Strong analytical and problem solving skills.
• Self‑motivated, results‑oriented and able to work independently.
• Knowledge of the local market and the UAE regulatory environment is highly desirable.
• Fluency in English is essential; knowledge of Arabic may be an advantage.

Key Competencies

• Client Focus
• Results Oriented
• Strategic Thinking
• Relationship Building
• Communication and Presentation Skills
• Negotiation Skills
• Market Awareness
• Integrity and Trust

Benefits

A competitive compensation package shall be discussed with the shortlisted candidates.