International Women in Wealth five minute interview: Juliet Wedderburn, Deutsche Bank

Date: 02 Dec 2011


Are there any private clients in the world you would really like to work with?

I thoroughly enjoy working with Deutsche Bank’s clients based here in the UK. The UK attracts many wealthy people from overseas who choose to live here all or part of their time. We have a very diverse client base which makes every day different.

Are women really going to take over the world, if so how?

Not any time soon as I believe the world population is evenly split. The key thing is to allow more girls access to education across the globe, so they have equal opportunities.

What size of client do you generally work with and how many do you have or what AUM do you manage?

When we started the business here in London, the client base was mainly mass affluent. We have now added a HNW and UHNW business and both of these areas will continue to be an area of investment. We also have a dedicated team in place to oversee the mass affluent business. Many of these clients have been with us for a number of years so we like to ensure they are well looked after.

What is the most interesting or unusual private client deal you have ever been involved with?

No client is the same and as you would expect in a people’s business you regularly come across interesting characters. The flamboyant dressers always brighten up my day! As a Private Banker you have to enjoy meeting and working with people and a sense of humour certainly helps.

What lessons have you learned that you could share with women starting out in the finance industry?

Be yourself, do not emulate male behaviour it comes across strange to both your female and male colleagues as well as clients.

What initiatives do you have or do you think there should be for women?

DB has the Maternity Coaching Programme for women leaving and returning from maternity leave, and their managers. For line managers the programme highlights and reinforces the benefits of good communication and support. In addition there are ante-natal programmes and pre-natal yoga classes available. The Deutsche Bank Nursery offers a full service nursery facility for babies and children from 3 months- 5 years. ATLAS (Accomplished Top Leaders Advancement Strategy) is the firm’s programme aimed at increasing the pool of women eligible for the most senior positions. Participants are provided with bespoke development opportunities and direct sponsorship a GEC member. Deutsche Bank Women Global Leaders at INSEAD is a week-long residential programme focusing on enhancing the leadership skills of the participants and preparing them for the next step in their career. The programme is for female Directors on the Managing Director track.

Do you think the British government should legislate to bring women on boards as they did in Norway?

I think we need to give it time and wait and see the results of some current excellent initiatives underway such as 30% Club, a group of Chairmen voluntarily committed to bringing more women onto UK corporate boards.

If you had to win a wealthy new client where would you take them to impress them?

There are few places that a wealthy client cannot take themselves. In my experience such clients would much prefer us to take a table at a charity event that they support rather than spend money on them.

What are your three USP’s for working with uhnw clients?

Discretion, maintaining integrity at all times, sense of humour.

What is the best thing that has ever been said about you or you have done or won?

I recently got married and have been overwhelmed by the sincere messages of congratulations from friends, family and acquaintances.

What is your individual focus in terms of countries and uhnw clients?

We focus on the UK market. Within the UHNW universe we currently focus on entrepreneurs, executives and Family Offices.

How much do you travel on business and where do you tend to go?

As Head of PWM’s London branch there is no exotic travel for me as our clients are often based within the M25 Although occasionally I will travel to see my colleagues in other offices within the UK: Birmingham, Liverpool, Edinburgh and Glasgow.

What is the next big thing in private wealth management?

The rapidly changing regulatory landscape for the wealth management sector will have an impact on the way all of us undertake business going forward. RDR is also a major factor – introducing an industry standard for those giving advice to clients.

Will you still be successful as a woman if you don’t dress the part?

As a man or a woman working within our industry you have to wear suitable business attire.

What would you tell a divorcing woman in the UK, whether she was British or International, and why?

As I would tell any individual going through such a life changing event – get the best advice you can afford. Do not rely on information/advice that you receive from friends who are very well meaning, but do not always have all the facts.

Is the glass ceiling still with us?

There are numerous good initiatives in place tackling this issue, including the 30% Club. I think these initiatives are well on their way to achieving positive results.

What charities do you admire and why?

I am a Trustee of the London Community Foundation. We act as the bridge between disadvantaged Londoners and businesses who want to make a difference to grass roots causes. I am also a huge fan of the amazing work that the Macmillan Nurses do – offering much needed support to patients and their families at a time of need. On an International basis I am a supporter of the Red Cross.

What is the dummies guide to making it to the top in finance or pwm?

Unfortunately, there is not one. You have to be suitably qualified. However a skill set that I think is very important in the role that we do and that is the ability to network.

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