ANZ’s private bank joins crowded race for country’s richest families

ANZ wants a greater slice of Australia’s wealthiest families, and is tasking its private bankers with the challenging ask of winning market share from global investment banks such as Morgan Stanley and UBS.

The lender’s ANZ Private division is tapping into what is expected to be one of the country’s largest transfers of intergenerational wealth and has lined up multiple new products for its richest clients, who are weighing the futures of family businesses or simply want to move their money beyond property or equities.