Business Manager Private Banker
Resume:
ESTEBAN COLON II
E-MAIL: *******.*******@*****.***
Objective
Searching for a Management Leadership Role, where I can motivate staff members providing accountability and support and in a well established comfortable setting. Furthermore, streamline activities and work dilligently with Line of Business Partners.
Senior Private Banker/Business Manager
A Senior Global Private Banker with experience in all aspects of asset management. Experience in managing over
$1B in client assets with $400M in client acquisition. A Former COO, CFO and trilingual expat with proven performance in streamlining processes, turning poor performing operations into profitable centers with increased profit margins. Expertise in wire transfers ACH account opening CUST and Institutional Accounts Work Experience
Wealthspire Advisors, Operations Consulting 02/2023 – 04/2023 Operations
• Streamline processes for opening new accounts through the different broker dealers used by firm
• Enhance Money Movement efficiency and shortened time line
• Improve processes for liquidation from private equity accounts
• Incorporate uniform documentation for accounts with multiple money managers
• Levearge best practices of all RIA’s with the umbrella to ensure consistency within region
• Sup;port front office in initiative to grow assets under management
• Structuring of entities for business activities in coordination with counsel
• Financial record keeping
• Depositing of all income
Generational Wealth LLC Owner CEO 09/2019 – 01/2023 Business Manager
Our approach to Business Management is to be a personal CFO and offer concierge-style sophisticated services to meet the needs of the unique and complicated life of our clients. Inclusion in diversion solutions including private placement, music industry investments and venues and film production
• Cash flow management and planning
• Tax planning and compliance
• Royalty review, auditing and tracking (Performed by Nigro Karlin Segal & Feldstein, LLP)
• Review of contracts in coordination with counsel
• Account services – including budgeting, projection of expenses, accounting of revenue, insurance
• Structuring of entities for business activities in coordination with counsel
• Financial record keeping
• Depositing of all income
• Managing and monitoring check receipts and bill payments
• Debt planning
• Risk management
• Investment review in consultation with investment professionals
• Obtaining insurance coverages
• Negotiation of real estate and major asset acquisitions NKSFB, Beverly Hills, CA 07/2018 - 04/2019
Business Manager
Our approach to Business Management is to be a personal CFO and offer concierge-style sophisticated services to meet the needs of the unique and complicated life of our clients. We help some of America’s most enterprising and successful individuals and families define the lives they choose to live. NKSFB, LLC provides our clients the expertise to protect and collect all that they have earned, and equips them with tools necessary to succeed short and long-term.
• Cash flow management and planning
• Tax planning and compliance
• Royalty review, auditing and tracking (Performed by Nigro Karlin Segal & Feldstein, LLP)
• Review of contracts in coordination with counsel
• Account services – including budgeting, projection of expenses, accounting of revenue, insurance
• Structuring of entities for business activities in coordination with counsel
• Financial record keeping
• Depositing of all income
• Managing and monitoring check receipts and bill payments
• Debt planning
• Risk management
• Investment review in consultation with investment professionals
• Obtaining insurance coverages
• Negotiation of real estate and major asset acquisitions BNY Mellon, New York, NY 06/2016 – 04/2018
Wealth Director
Focused on providing BNY Wealth Managements Investment services to high net worth individuals primarily through face to face to face meetings and networking with sources through direct prospecting and, cultivation of external referral sources and creative networking with key influencer's in the New York and International market space
• Managed multiple, diverse teams and provides leadership through other subordinate managers.
• Executed business plans and contributes to the development of functional strategy. Manages activities for multiple diverse teams.
• Responsible for resource allocation and ensuring projects are on schedule and within budget. Contributed to the development of functional strategy. Ensures work is integrated across teams and that the work produced meets product/service standards and exceeds quality standards.
• Recruits, directs, motivates and develops staff, maximizing their individual contribution, their professional growth and their ability to function effectively with their colleagues as a team. Contributes to the development of overall procedures and policies.
• Ensured they are executed as intended by subordinate teams.
• Managed multiple teams through subordinate managers. Responsible for the achievement of multiple teams objectives.
• Perform ongoing portfolio reviews, and proactive financial insight and advice PNC Private Bank, Ridgewood, NJ 09/2014 -
12/2016
Vice President, Senior Relationship Manager
One of 20 Senior Relationship Managers in the Northeast Market with a focus on identifying and developing new opportunities to deliver advice and solutions to existing clients, and with new Wealth Management prospects through referrals from centers of influence in the community, other PNC businesses, introductions from existing clients and other sales channels. Applying knowledge of wealth management and private banking services, work with Wealth Management team members to expand existing client relationships. Serve as the primary contact for select high net worth clients
• Top Senior Private Banker in the region in banking revenue in only three months joining the company with
$1M in revenue
• Responsible for the acquisition and management of $500M in client assets with a focus on the US market particular the north east
• Increased YOY Revenue by $500K within 5 month spam with additional $50M in pipeline opportunity
• Manage each account to ensure that the client has a completed profile, is introduced to the appropriate product specialists and that accounts are properly maintained and serviced
• Ensured financial compliance, in accordance with PNC and the OCC regulatory standards and policies; optimizing relations with regulators and by addressing any key issues
• Responsible for offering creative banking services and structure appropriate debt solutions
• Manage daily risks and opportunities in the market and fine tune portfolios accordingly
• Perform ongoing and development for junior staff and team members Bank of America Merrill Lynch, New York, NY 8/2012 – 09/2014
Global International Financial Advisor
One of 10 team members between NY and Miami with the responsibility for developing new and managing existing high net worth clients/accounts in order to maximize private bank lending, deposits, to develop prospect relationships, and to enhance/grow/retain client relationships, also to assist in bringing self-directed brokerage accounts to Merrill Edge. The incumbent is responsible for attainment of business targets including loans, deposits, brokerage-based and fee-based products and the revenue attendant to these sales.
• Designed Pipeline development strategy and entry in the Major League Baseball market with an emphasis on Latin American professional players
• Developed partnership with professional sports agency handling all financial planning responsibilities for within the agency umbrella
• Responsible for the daily management of $1B in client assets with a focus on the Latin American Market
• Proactively build 100 new relationships greater with greater than 1M in assets
• Deepening client relationships by providing excellent service and leveraging all areas and products of the bank
• Perform ongoing portfolio reviews, and proactive financial insight and advice
• Oversaw development and deployment of Wealth Management and Finance architecture of Brazil Local Currency platform
Bank of America Merrill Lynch, New York, NY 8/2010 – 8/2012
Vice President – Business Financer Officer/Head of Financial Planning & Analysis for Latin America
Head of FP&A Department, spear-heading the Company’s financial quarterly forecast, annual budgeting process, operating plan variance analysis and special projects. Provided financial consulting and strategic support to senior management including preparing board presentations, financial presentations, capital expenditure analysis, industry/peer group comparisons, new business opportunities, acquisition analysis and other projects requested by senior management. The group’s main function was to act as the analytical engine of the company to provide insights and support ‘optimal’ business decisions.
• Oversaw development and deployment of Wealth Management and Finance architecture of Brazil Local Currency platform
• Worked on the sale of our Brazil Wealth Management Business to Julius Baer for approximately $1B
• Developed robust process to naintain short term, medium term, and long term financial outlooks for the businesses and legal entities supported to be used in support of AOP, Latest Estimate, and 10 year plans
• Deliver Monthly Finance update at Quarterly Business Offsite with primary focus on forward looking and competitive market analysis
• Responsible quarterly FRB and Enterprise Stress Testing for Line of Business by product conducting qualitative and quantitative analysis
• Managed team of 8 6 domestic/2 overseas) allocating and reviewing responsibilities to support business unit and department analysis, preparing performance reviews, providing training, planning and career development
• Design and manage financial analysis to support business evaluation and analysis needs for both forward looking and current performance
• Supported business leaders in cost control agenda and drive to increase direct contribution and NIBT margin
HSBC Securities, New York, NY 1/2010 –
8/2010
Vice President – COO of Global Banking & Markets Finance Americas Plans and directs all aspects of an organization's operational policies, objectives, initiatives. I was accountable for the attainment of short- and long-term financial and operational goals. Directs the development of the organization to ensure future growth.
• Chief Operating Officer with a $200M expense base and $7M in expense reduction.
• Managed staff in excess of 60 employees
• Oversaw development and deployment of Global Banking & Finance architecture in the Americas region
• Responsible for creating control awareness and ensuring integrity of processes to mitigate risks, leveraging resources and searching for synergies across Global Banking & Markets Finance across the Americas
• Developed strategies for CFO wide employee satisfaction and engagement initiatives to gain additional insight on the voice of our employees
• Responsible for Americas Quarterly Financial Leadership Committee offsite HSBC Securities, Sao Paulo, Brazil 8/2007 –
12/2009
Vice President – Head of Financial Planning & Analysis Global Banking & Markets Finance Latin America
Head of FP&A Department with team of 40 across 12 different countries, spear-heading the Company’s financial quarterly forecast, annual budgeting process, operating plan variance analysis and special projects. Provided financial consulting and strategic support to senior management including preparing board presentations, financial presentations, capital expenditure analysis, industry/peer group comparisons, new business opportunities, acquisition analysis and other projects requested by senior management. The group’s main function was to act as the analytical engine of the company to provide insights and support ‘optimal’ business decisions.
• Developed and streamlined Financial Planning and Analysis for 11 countries within Global Banking & Markets Latin America
• Created and continually enhanced the coverage, quality, integrity, and credibility of Management Information for Global Banking & Markets Latin America, this included providing in-depth analysis by client, sector, product, country
• Work with Latin America EXCO committee as a valued business partner to provide insight into proposed product lines, pricing models, business opportunities, and internal and external measurements and methodologies
• Consulted with executive management, risk management, compliance and other key leadership providing integrated data analysis and risk mitigation
• Created process to perform control function of financial reporting by working closely with and managing relationships with Product Control, Operations, and Tax
• Provided in depth analysis on balance sheet and capital returns including commentary to executive management for weekly, monthly, interim and full year results and plan HSBC Securities, New York, NY 6/2006 –
8/2007
AVP – Manager of Incentive Compensation, Global Banking & Markets USA Managed team of 7 to provide design and administer the sales incentive compensations plans for Financial Advisors with the Global Banking and Markets division of HSBC Securities. The responsibilities of this role included leading in-sourcing initiatives, reduce expenditures, and assessing the effectiveness of those plans.
• Successfully led implementation project of Callidus Truecomp, this included development of architectural design and infrastructure, creation and supervision of UAT/SIT environment, as well as providing business and financial oversight to developers
• Spear headed 4 month offshore migration project and managed ongoing relationship with GSC team in Hyderabad this included one month stay in Hyderabad to ensure seamless transition of group responsibilities
• Developed robust monthly financial package providing in depth analysis of performance results, trends, and metrics
• Monitored and reviewed all compensation adjustments within PCS group
• Interacted with relationship managers in order to assist with questions pertaining to product compensation,
& stock option inquiries
PRIOR RELEVANT EXPERIENCE
Morgan Stanley Purchase, NY 9/2003 –
6/2006
Associate - FA compensation, Global Wealth Management USA Morgan Stanley New York, NY 7/2000 –
9/2003
Analyst – Compensation Accounting, Global Wealth Management USA Education & Skills
Baruch College, New York, NY
• B.A. – Biology minor Finance
• Cum Laude
• Series 7 & 66 license (expired)
• CFA Level I
• Applications: Microsoft Access, Excel, PowerPoint, Outlook, Word, Cognos, TM1, Hyperion Essbase, HORIS, Salesforce, Callidus
• Boardmember of After-School All Stars (ASAS)
• Bilingual: Spanish, Conversational Portuguese
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