The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney is part of the Euromoney Institutional Investor PLC
Best Bank Awards

Australia's best private bank 2018: Credit Suisse

Credit Suisse

Yet again, Credit Suisse has shown that its name is synonymous with high-end private banking.

Michael Marr, Head of Private Banking Australia, Credit Suisse.jpg
Michael Marr, Credit Suisse

In the year to September 2018, revenues grew 29%, assets under management rose 23% and profit increased 24%. Credit Suisse’s head of private banking in Australia, Michael Marr, says the bank’s diligent focus on costs and on leveraging the bank’s global reach were key to the growth. It clearly helps Marr, a former officer in the Scots Guard, that Australian households were ranked in 2018 as the world’s wealthiest, with an average household wealth of $191,000 in a study by, yes, Credit Suisse.

The bank deems about 6% to 7% of Australia’s population of 25 million to be millionaires. With Australia now approaching its 28th year of interrupted economic growth, Marr looks set to continue his nice set of numbers for some time to come yet.

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree