Credit Suisse strengthens private banking capabilities in Australia

22 April 2008

Credit Suisse announced today that it has agreed to acquire the corporate advisory business of Hindal. This acquisition will further strengthen Credit Suisse’s private banking capabilities in Australia through providing corporate advisory services to small-to-mid cap businesses.

Hindal is an independent and privately owned corporate advisory firm established in 1996. Hindal focuses on the small-to-mid cap corporate sector and works with private and listed businesses across a wide range of industries, providing services in the areas of mergers and acquisitions, divestments, capital raisings, corporate advisory and strategy. It has offices in Melbourne and Sydney with a team of over 25 employees and has completed more than 300 assignments.

The acquisition will enhance Credit Suisse’s private banking capabilities in Australia by offering holistic advice that spans the corporate and personal needs of high and ultra high net worth clients. It will also allow Credit Suisse to extend its integrated bank strategy of offering Private Banking, Investment Banking and Asset Management solutions to the fast-developing small-to-mid cap client segment in Australia. Following the acquisition, Hindal staff will join Credit Suisse’s Private Banking business and will continue to serve their clients with the comprehensive additional support from Credit Suisse.

Credit Suisse’s Head of Private Banking Australia Nick Kalikajaros said, “We commenced our domestic Private Banking business in Australia last year and have since built up a strong team of Relationship Managers and investment services and product specialists. A large proportion of private banking clients in Australia are entrepreneurs or business owners, and 85% of these businesses are estimated to change hands in the next five years. Such strategic repositioning of businesses often impacts private assets as well and requires a holistic range of corporate and personal advisory services. This milestone acquisition will further strengthen our ability to offer small-to-mid cap corporate advisory services for this client segment and establish us as the leading banking franchise for high and ultra high net worth business owners.”

Credit Suisse’s Country Manager Australia David Trude said that the acquisition of the business from Hindal further demonstrates the bank’s commitment to the Australia market and enhances its integrated bank platform. “Hindal is a well-resourced professional corporate advisor focusing on the small-to-mid cap market. It has a well-known and trusted team with a strong track-record. This acquisition will further complement our comprehensive offering of Private Banking, Investment Banking and Asset Management services in the local market to meet our clients’ diverse needs. Hindal’s clients and employees will benefit from our existing infrastructure and well-established Australian franchise.”

Hindal’s Co-Chairman, Michael Naphtali said, “We are excited by the opportunities the merger can deliver for the Hindal team and our clients as it is a unique offering within a Private Bank in Australia.” David Beatty, Hindal’s Co-Chairman added, “The consistent cultures and the absolute commitment to client service from Credit Suisse and Hindal provide a significant base to service and grow our broad relationships in the Australian market.”

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