Goldman Sachs Australia Wealth Expansion Targets Richest Families

Goldman Sachs Australia wealth expansion is accelerating as the Wall Street bank seeks to capture the growing fortunes of self-made millionaires and family offices. Its Sydney and Melbourne unit, staffed with 13 professionals including eight advisers, serves clients with at least AUD100m (USD67.2m) in investable assets. The Goldman Sachs Australia wealth strategy provides access to global investment bankers, private deals, and specialist asset classes such as private equity. With fortunes rising from tech entrepreneurs behind Canva and Atlassian as well as mining tycoons like Gina Rinehart and Andrew Forrest, demand for professional wealth management is soaring. Goldman now competes with UBS and domestic rivals including LGT Crestone for the ultra-rich.