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Stewart. The main challenge is that private banking services are not as widely used in Australia as in other parts ofworld. “Raising awareness and educating the market onhowwe can help to create an enduring, sustainable advantage is a challenge, but a good one to have.” ET


quality and range of services, talent and entrepreneurial attitude of our bankers mirroring our clients’ behaviour and innovation. It is a mix of ingredients that creates a great recipe.” The pandemic validated the belief


that “clients should be prepared for the unexpected,”which means that portfolios must be diversified and resilient, avoiding big risks and thus big losses. “A back-to-basics approach helped us rebalance portfolios with investments offering growth potential during the pandemic,” he says. The crisis has also opened up new business opportunities, leading the bank to complete two acquisitions in Spain and one in Brazil, its two key growth markets.“We believe that nowis a great time to acquire smaller wealth houses to build up critical mass.” ET


BEST PRIVATE BANK IN AUSTRALIA PRIVATE WEALTH – WESTPAC GROUP


Over the past year, PrivateWealth has introduced newenhanced digital banking capabilities tomake banking “more secure, simpler, easier and faster”, and expanded its Global Investment Services offering for self-directed, sophisticated clients. “Clients can select froma wide


20 GLOBAL PRIVATE BANKING AWARDS 2020


range of high conviction and often hard to access investment opportunitieswhich leverage the bank’s thematic approach,” says Ashley Stewart, managing director at PrivateWealth. Clients have shown interest in


several existing investment themes that have been further validated by the pandemic, such as modern healthcare, real estate assets and critical logistics addressing the faster shift towards e-commerce, he adds. Adedicated portal, offering


investment insights and visibility of their holdings, across both traditional and alternative assets is nowavailable for clients. The bank has also continued to


invest in its people, with a focus on developing personal resilience, collaboration and techniques to manage challenges. “Iam immensely proud ofhowour people have innovated, adapted and overcomechallenges this year to support our clientswhen they have needed us most,” boasts Mr Stewart. Bankers have been able to react


quickly and often support their clients in newways, for instance by introducing alternative investment solutions, or through complete portfolio restructuring. PrivateWealth is well positioned


to take advantage of the growth in high networth Australians seeking to be in control of their wealth generation and creation, says Mr


Aiming high:Andbank focuses on upper


affluent clients, with assets ranging from €1mto€10m


BEST PRIVATE BANK IN BAHRAIN; BEST PRIVATE BANK IN KUWAIT AHLI UNITED BANK B.S.C.


AhliUnited Bank (AUB) has developed a strong presence in the Middle East and North Africa region, with 148 branches across Bahrain, Kuwait, Egypt, Oman, Iraq, Libya and theUAE, as well as in the UK. Access to the group’s extensive


geographical footprint has provided significant opportunities for the bank’s private banking division in sourcing cross-border business, commercial opportunities and investment flows, resulting in growth in both client base and assets under management. The bank’s strategy continues


to focus on expanding its wealth management services and investment product offering, ongoing investment in technology, and on attracting and retaining the best talent to build long-lasting relationships with clients. “Our people are crucial to our


success, and as such, wewant to attract, employ and retain the best people in the industry, makingAUB the place peoplewant towork,” says Mark Hirst, deputy group CEO, private banking and wealth management atAUB. In 2019, the bank developed and


launched an e-learning academy, customised for its private banking team, tomake sure relationship managers have the right skills for their roles and remain at the


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