Winners rationale

Unlike some of its international peers, Credit Suisse has not only stayed the course in Australia but expanded its activities and offerings to private clients, who now more than ever require solutions that only an international wealth manager augmented by a top-tier investment bank can provide.

Helmed by one of the industry’s most experienced practitioners, Credit Suisse has a nuanced understanding of the domestic market, where its one-banking proposition resonates with Australian entrepreneurs and UHNWIs whose needs are as complex as they are global. Indeed, Credit Suisse in 2018 ticked off a number of achievements that were the result of seamless collaboration with its investment bank in Australia. These include advising a PE sponsor on the sale of a sizeable business and successfully pitching for a long-term passive management mandate within a short turnaround time and amid stiff competition.

Equally, Credit Suisse excels in the craft of pure wealth management. Its discretionary portfolio management offering is unique in the market for its multi-asset class strategies overseen by an in-house team, with the Australian business boasting the highest mandate penetration among Credit Suisse’s APAC franchise. The bank can also lay claim to Australia’s leading advisory service underpinned by a global solutions platform that, domestically, is without peer and which provides clients access to opportunities not available elsewhere.

Credit Suisse’s uniqueness in the Australia market extends to its EAM business which has forged a dominant position due to its multi-asset, multi-currency loan platform.

Meanwhile, clients have taken quickly to Credit Suisse’s vaunted Digital Private Banking offering. Not only does Australia boast the fastest adoption rate globally, but over 40% of trades are now done through DPB. Its investments into technology have not come at the expense of human capital, however. The private bank’s pool of relationship managers have an average tenure of almost five years and Credit Suisse emphasises internal mobility, providing comprehensive training to ensure industry-leading standards in the market.

With an enviable performance track record, headlined in 2018 by positive NNA inflows, top-line growth including a marked increase in recurring and collaboration revenues, and a jump in profitability, Credit Suisse has once again demonstrated the effectiveness of its proposition in Australia.

Credit Suisse is Asian Private Banker’s Best Private Bank – Australia for 2018.