Awards for Distinction 2023 – Best Private Bank – Australia

Best Private Bank Australia


UBS Global Wealth Management APAC

Best Private Bank – Australia

Michael Marr

Head UBS Global Wealth Management, Australia
UBS Global Wealth Management APAC

Our business in Australia is a shining example of how we bring our combined capabilities and offerings to our private clients. Being recognised as the Best Private Bank in Australia for eight of the past nine years showcases the longstanding relationships we have with our clients built on deep trust and impeccable service levels.

Wealth Management is the DNA of UBS, and we recognise the quality and long-term success of our franchise here in Australia. Our ambition is to continue to build on and strengthen our capabilities to bring an even wider global network and accessibility to our clients.

What was behind the judges’ decision?

  • The judging panel is convinced that while client numbers fell during the tumultuous first few months of 2023 for Credit Suisse, its wealth management business in Australia continued to remain focused and has successfully regained client trust and assets since merging with UBS Global Wealth Management during the review period. Net new assets and revenue from onshore wealth management in Australia reflect UBS’s commitment to continue to become the top wealth manager in the country
  • Following the integration, Credit Suisse Wealth Management Australia has integrated its offerings with UBS’s investment solutions, global markets, research, and CIO insights, as well as UBS Global Wealth Management’s unique digital CIO platform, Circle One
  • The “power of two” of UBS and Credit Suisse was also best shown in Australia through the one-bank collaboration. For example, UBS’s investment bank was able to refer prospects to Credit Suisse Wealth Management Australia for portfolio management, and Credit Suisse Wealth Management Australia can connect large families with institutional needs with UBS

What we said

“Australia may seem like a comeback for UBS Global Wealth Management, however, by integrating with Credit Suisse’s crown jewel onshore setup Down Under, UBS now is bar-none the top wealth manager in Australia,” said Carly Lau, senior reporter, Asian Private Banker.

“Credit Suisse, in the past 16 years, has been providing a holistic one-bank offering to Australia’s wealthiest individuals and families – from tailored advisory and solutions throughout the wealth lifecycle to its global platform that makes the most of the Swiss bank’s full range of capabilities. Since the announcement of the acquisition, client confidence has shifted back to Credit Suisse wealth management in Australia, which resulted in positive gains in assets and new clients.

“For many years, UBS has run investment banking and global markets businesses in Australia that complemented Credit Suisse’s offerings to deliver top-notch institutional and wealth platforms for the UHNW and family office clients. Asian Private Banker congratulates the team at UBS Global Wealth Management in Australia for such a rewarding year and for winning Best Private Bank – Australia for 2023.”

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