Data Alert: Australia Now 10th Largest Private Banking Market in the world 29 June 2010 Data just released in the 2010 World Wealth Report shows that as at year end 2009 Australia had the 10th largest private banking market in the world, up from eleventh place for 2008. The private banking industry in Australia has benefited from almost 20 years of sustained economic growth to become the third largest private wealth market in the Asia-Pacific and the 10th largest in the world, according to Capgemini and Merrill Lynch’s 2010 World Wealth Report. Strategically, Australia offers a competitive regional location for providing wealth management services. Australia is distinguished by the strength and resilience of its economy, the size, depth and liquidity of its financial markets and the sophisticated and innovative nature of its funds management sector, underpinned by its mandatory retirement income policy. This, together with an open, transparent, best practice regulatory environment, favourable changes in taxation system and skilled multilingual financial professionals, makes Australia an attractive destination for investment. Download Austrade Data Alert: Australia – 10th Largest Private Banking Market in the world (PDF) More information |