Credit Suisse acquires Hindal
Credit Suisse has acquired the corporate advisory business of Hindal in a move aimed at strengthening its Australian private banking capabilities.
Announcing the move today, Credit Suisse said the acquisition would strengthen its position by offering holistic advice spanning the corporate and personal needs of high and ultra-high-net-worth clients.
Commenting on the move, Credit Suisse head of Private Banking in Australia Nick Kalikajeros said that since starting the domestic Private Banking business in Australia last year, Credit Suisse had built up a strong team of relationship managers and investment services and product specialists.
He said that a large proportion of private banking clients in Australia were entrepreneurs and business owners, and 85 per cent of these businesses were estimated to change hands in the next five years.
Hindal co-chairman Michael Naphtali said the company was excited by the opportunities the merger would deliver for Hindal and its clients.
AUTHOR
Mike Taylor
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
