Credit Suisse Australia’s lucrative wealth management arm, which banks some of the country’s richest people, would be the “jewel” in the crown of any agreement with UBS, which is in talks over a possible takeover of the beleaguered rival lender.
A deal, being ironed out in Zurich and due as soon as late Monday AEDT, would bring an Australian wealth management arm to UBS, which has been out of the local private banking space since 2015.
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Aaron Weinman was a correspondent at The Australian Financial Review.
Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Bluesky: @jennywiggins.bsky.social Email Jenny at jwiggins@afr.com
