Mac Bank takes out wealth award
(4 June 2010 – Australia) Macquarie Private Bank has taken out the title of outstanding institution servicing high net worth individuals at The Australian Private Banking Awards.
At the awards held in Sydney on Thursday, Macquarie bet out the competition, for the category that includes investors with more than A$30 million to invest, and collected the industry award for the best banker to the ultra rich in 2010.
Commonwealth Private’s Gary McMahon took home an award for outstanding relationship manager for 2010 and the institution walked away with the award for servicing high net worth individuals, holding between A$1-$10 to invest.
ANZ was judged the best for the middle category, A$10-A$30 million.
Bankers from National Australia Bank Private Bank, Credit Suisse and Westpac Private Bank all took away awards.
A survey including 500 investors conducted by research firm Retail Finance Intelligence (RFi) showed that high net worth investors are not rushing to invest.
These investors have become polarised in their attitude toward risk compared to 12 months ago, RFi research director Alan Shields said in a statement.
What the firm is seeing is a real divide between investor attitudes to risk with an increase in those willing to allocate 50 percent of their portfolio in riskier assets, while the number of those unwilling to rise any of their portfolio has also increased slightly, Mr Shields added.
This suggested investors burned in the global financial crisis have longer memories than those who emerged relatively unscathed, Mr Shields said.
Commonwealth Private’s Gary McMahon took home an award for outstanding relationship manager for 2010 and the institution walked away with the award for servicing high net worth individuals, holding between A$1-$10 to invest.
ANZ was judged the best for the middle category, A$10-A$30 million.
Bankers from National Australia Bank Private Bank, Credit Suisse and Westpac Private Bank all took away awards.
A survey including 500 investors conducted by research firm Retail Finance Intelligence (RFi) showed that high net worth investors are not rushing to invest.
These investors have become polarised in their attitude toward risk compared to 12 months ago, RFi research director Alan Shields said in a statement.
What the firm is seeing is a real divide between investor attitudes to risk with an increase in those willing to allocate 50 percent of their portfolio in riskier assets, while the number of those unwilling to rise any of their portfolio has also increased slightly, Mr Shields added.
This suggested investors burned in the global financial crisis have longer memories than those who emerged relatively unscathed, Mr Shields said.
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