The bank says the move helps it strengthen its private banking capabilities in Australia by enabling it to offer more corporate advisory services to small- to mid-cap businesses. Credit Suisse launched its Australian private bank last year.
ôA large proportion of private banking clients in Australia are entrepreneurs or business owners, and 85% of these businesses are estimated to change hands in the next five years, says Nick Kalikajaros, Credit SuisseÆs head of private banking Australia. Such strategic repositioning of businesses often impacts private assets as well and requires a holistic range...
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