Bulge brackets move the outback to the forefront
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Brutal competition for asset management
UBS has about 130 advisers; head of wealth management Liz Cacciottollo wants to take that to 180. She says: “In terms of market size, Australia is probably the 10th-largest domestic opportunity in the world in terms of wealth in the hands of private individuals we might advise”. By her reckoning there are A$700 billion to A$800 billion ($582 billion to $665 billion) of investable assets in those hands.
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