Avior Executive Search | March 2023 Updates

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Avior Executive Search Thoughts, Comments, Most Pressing Search Assignments, and Happenings

I want to address a question that seems to be on the minds of many people out there, which is: are we in a recession? Indeed, recent layoff announcements from several prominent tech firms like Microsoft, Google, Amazon, Twitter and other would validate that concern. However, according to a recent article regarding the current state of hiring from Korn Ferry, one of the largest retained search firms in the world, the opposite is true. Firms are actually reporting an increase in job opportunities. “All this hiring comes even as headlines fixate on layoffs at large technology companies. Those firms have shed 150,000 jobs over the last few months. It’s a correction for tech’s 2021 and early-2022 hiring spree, which was based on the belief that skyrocketing demand for products and services during the pandemic would be maintained afterward. Consumer patterns reverted somewhat to their pre-pandemic ways, however, and investors in these firms started complaining that they had too many workers”. Furthermore, according to Jacob Zabkowicz, Korn Ferry’s vice president and general manager of the firm’s Recruitment Process Outsourcing business, “…even the industries that have been laying people off are still hiring”. The big technology firms are so huge, they still have roles to fill. “It doesn’t mean that they aren’t hiring profusely in other parts of the business.” The takeaway here is that although there may be workforce reductions in one sector that doesn’t mean there aren’t opportunities in other areas.

When looking at the wealth management industry, I would say it has a similar theme. Recently, Seth Bernstein, CEO of Alliance Bernstein, announced a 4% layoff of the company’s staff. This was a direct result of a 17% decline in the company’s assets since last year. “We enter 2023 with an AUM base 17% below the prior year period, necessitating global cost reduction measures, including headcount reduction,” Bernstein reported. The two types of employees who were let go were: those who did not generate revenue within cost centers and those who underperformed.

Based on my vast experience (over 34 years in the industry), I can attest that it is typical for any business to reduce overhead when revenues fall. I do believe that we will see more of these types of announcements within the wealth management world, as demonstrated by Goldman’s recent layoffs in December. However, there is good news – there is still a lot of growth happening, particularly for those directly involved in supporting revenue production. I continue to remain optimistic, as do the decision makers with whom I speak, especially smaller to mid-sized wealth firms who see this as an opportunity to attract talent from larger organizations. Avior is receiving numerous inquiries from these types of firms who are focused on growth and attracting talent.

While I am happy to provide my viewpoints and advice on the current trends within our industry, I will remind everyone that I really would love to hear from you with questions, comment and ideas about topics you would like to see addressed in future newsletters.

Most importantly, I once again encourage those of you in onboarding capacities to contact me to discuss how Avior can help you identify the specific talent your firm requires. If you are an individual contemplating the next step in your career and would like to have a frank yet confidential discussion, please feel free to reach out me as well.

I sincerely look forward to hearing from you.

Alan Goldstein, President

Market Insights

What Tasks to Outsource to Your Family Office
According to a survey by Family Office Exchange (FOX) and Bessemer Trust, 71% of single-family offices reported outsourcing some of their functions to external service providers, with investment management being the most commonly outsourced function. Read More

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According to a survey conducted by the Family Office Exchange (FOX), almost 40% of family offices did not have a formal succession plan in place. The survey also found that a significant number of family offices lacked clarity on the roles and responsibilities of team members and had not established a clear governance structure to guide decision-making. Read More

Pressing Search Assignments

Head of Human Resources

  • Collaborates with senior leadership to understand the organizations goals and strategy related to staffing, recruiting, and retention.
  • Must have a minimum of 5 years’ experience as as a Head of Human Resources within the Financial
    Services sector. Strongly prefer candidates from the following industries: Wealth Management, RIA, Family Office, Private Banking or Brokerage.
  • Bachelor’s degree in Human Resources or related field is required.
  • Relocation is available, fluency in Spanish is preferred

Senior Relationship Managers (Wealth Management)

  • Our client is the largest independent Advisory firm in the Caribbean
  • Seeking experienced international business development professionals coming from banking, brokerage, RIA, Family Office who have either an active existing portfolio or a deep network. If you are currently a Financial Advisor, Private Banker, Portfolio Manager with offshore clients anywhere in the world, Please contact for more information
  • Relocation available to Bermuda, Bahamas, or Cayman Islands

Senior Investment Analyst

  • Newly created position as an Investment Analyst and will work closely with the Portfolio Manager in the management of the company’s portfolio construction, selection, and monitoring, analyzing, delivering customized client solutions, and providing analytical support.
  • Construct custom portfolios and generate customized solutions to meet client’s objectives and risk tolerances
  • Analyze inputs and outputs of models such as Markowitz and Black-Litterman
  • Knowledge of global financial markets, portfolio analysis, portfolio manager analysis and portfolio construction.
  • Bachelor’s degree in Finance, Business, Economic or related field
  • CFA required
  • Fluency in Spanish is required.
  • Location: Miami

Senior Private Bankers

  • Boutique International Private Bank seeking UHNW Domestic Private Bankers for the South Florida & NYC Markets. This is a newly created position is a critical need for our client’s strategic growth strategy in the U.S market.
  • Responsible for establishing new business relationships with high-net worth and ultra-high net-worth individuals, and maintenance of these relationships
  • Proven track record with an average client of 5M
  • Demonstrated high level of expertise in sales, networking, negotiations, community relationship building and execution of responsibilities
  • Must have an existing portfolio exceeding 150M USD
  • Bachelor’s degree in Business, Finance, Economics and/or related field is Master’s degree preferred.

Senior Vice President C&I Underwriter

  • The role reports to the Chief Lending Officer and serves as the primary point of contact for new business underwriting.
  • The role will encompass the origination/underwriting of new C&I Attorney loans. These loans sourced by our business development team. There are no new business development responsibilities.
  • This role will require demonstrated experience presenting the loan to the bank’s loan committee. Experience in closing loans is a key performance expectation.
  • Experience spanning both underwriting, portfolio management and risk
    analysis of a commercial portfolio with credits in the $5 million to $20 million range
  • Knowledge of Asset Based Lending (ABL)

Senior Wealth Management Relationship Manager

  • Responsible for establishing new business relationships with high-net worth and ultrahigh networth individuals, and maintenance of these relationships. Offer services to include, but not limited
    to, investment management, portfolio management, and investment banking.
  • Must have a personal minimum portfolio of 200M+ which they have personally built.
  • Proven track record within the South Florida business & HNW community with
    strong centers of influence (COI’s) to build own book of business.
  • Bachelor’s degree in Business, Finance, Economics and/or related field is required. Master’s degree preferred.
  • Fluency in Spanish is preferred.

Financial Advisors

  • Minimum T-12’s 400K average is 1M and above. We work with all major wire houses, independents, RIA’s for both onshore and Independents, RIA’s for both onshore and offshore advisors. Minimum T-12 would be 400K/MIAMI
  • Nationwide opportunities: New York/Metro, Miami, Tampa, Houston, Philadelphia, Washington, Boston, Atlanta, Cleveland, Minneapolis, Dallas, Denver, Los Angeles, Nashville, San Diego, & San Francisco

Senior International Relationship Manager or Banker

  • Seeking a senior relationship manager or senior private banker who has active portable portfolio of private wealth clients in excess of 100M USD.
  • Must have a minimum of 7 years of experience as a private banker or relationship manager
  • The Relationship Manager can come from different markets such as Asia, Latam, Europe, Caribbean, UAE, or Israel
  • Clients booking center are in Switzerland or Bahamas
  • Individual producers and/or team’s welcome
  • Relocation package available

Senior Sales Superstars

  • Established record of sales success within another related industry such as finance, legal/trust, real estate, technology, Hospitality, philanthropy, fundraising, auction/fine art, Luxury brands, fashion, entertainment, sales, entrepreneurship, or private wealth manage finance, legal/trust, real estate, philanthropy, fundraising, auction/fine art, entertainment, sales, entrepreneurship, or private wealth management
  • Minimum of seven years of relevant work experience in catering to finance, legal/trust, real estate, philanthropy, fundraising, auction/fine art, entertainment, sales, entrepreneurship, or private wealth management
  • Strong Sales and or Business development track record a MUST
  • Nationwide opportunities: New York, Philadelphia, Washington, Boston, Atlanta, Miami, Cleveland, Minneapolis, Dallas, Denver, Houston, Los Angeles, Nashville, San Diego & San Francisco
  • Please contact for more information

About Avior Search

Avior Executive Search is a professional recruiting firm specializing in the wealth management industry globally. We have built a proud reputation based on our search process and market knowledge and have an unmatched network with extensive search experience in the United States, Canada, Latin America, Europe, and Middle East global wealth management industry.

aviorsearch.com | (646) 612-7699