Citywealth Interviews Josh Rubenstein as Part of Future Leaders Awards 2020

Chair and partner of the Private Wealth Department Josh Rubenstein was interviewed by Citywealth as part of a series of interviews with the private wealth industry and nominees for its Future Leaders Awards 2020 about how to maintain career progression during the remote world of the COVID-19 pandemic. Josh spoke about how the private wealth industry has become more popular and right now is a good time for those entering the industry.

"The private client world has come full circle. When I started in it 40 years ago, it was preeminent but on the decline. M&A, mergers and acquisitions, was just starting to become popular. And all of a sudden, corporate transactions took center stage, and the big Magic Circle firms started getting rid of their private client groups. And for several decades, we were oddballs in the private client world," Josh explained.

With the onset of the financial collapse in 2008, new reporting requirements and increased regulation led to the wealthy becoming increasingly private. According to Josh, this increased the need for private client work.

"You cannot represent somebody transactionally who is private without representing them personally at the same time, so the day of the private client order has returned," Josh said. 

Watch Josh's interview here.