Awards for Distinction 2018 – Best Private Bank – Australia

2018 Winners – Distinction

BEST PRIVATE BANK – AUSTRALIA

CREDIT SUISSE

Michael Marr
market group head for Australia,
Credit Suisse Private Banking
Asia Pacific

We are pleased to be named the Best Private Bank – Australia for the second consecutive year and five out of the past eight years. This award once again reaffirms our position as the only international private banking franchise in the domestic market with a truly differentiated model, offering flat-fee-based multi-asset class solutions. Our business model is sustainable and resilient, with recurring revenues making up the majority of our revenue mix.

In 2018, we continued to expanding our suite of products and solutions, including appointing a financing specialist dedicated to the domestic market, continuing to focus on the non-profit and endowments client segment, as well as offering EAMs our multi-asset, multi-currency loan platform and associated services that is unique in the market. Notably, our significant investment in technology has resulted in very high client take-up of our digital private banking application, bringing significant efficiencies.

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.