Australia's high net worth individuals have named their top private banks and wealth managers at the recently held 2010 Australian Private Banking Awards dinner in Sydney.

Hosted by the Australian Private Banking Council, the awards dinner aimed to recognise the key players in the country's banking industry following the global financial crisis. The results emerged from a survey of 500 HNW investor clients by research and advisory firm RFi.

"What we're seeing is a real divide between investor attitudes to risk with an increase in those whilling to allocate 50 per cent of their portfolio in riskier assets while the number of those unwilling to risk any of their portfolio has also increased slightly," said Alan Shields, the research director for RFi, in a statement.

"This suggests those burned during the global financial crisis have longer memories than those who emerged relatively unscathed, while others are feeling there are real investment opportunities at present and believe now is a time to make hay."

Good news concerning overseas institutions are also inspiring HNW individuals to boost their investment activity, particularly over international equities. The challenge among Australian banks, Shields says, is to engage local investors.

"While the window of opportunity is rapidly closing, Australian banks need to remind their customers of the high level of safety they offer," noted Shields.

Australian shares still top the list as the preferred asset class of HNW individuals, followed by fixed interest securities and cash. International shares have also gained more supporters in 2010 compared to the previous year, with residential property trailing close by.

At the dinner, special awards were given to Commonwealth Private, for the $1-10 million HNW segment, ANZ Private, for the $10-30 million segment, and Macquarie Private Bank, for the $30 million and upwards segment. Individual commendations were also given to senior executives at Credit Suisse Private Bank, Westpac Private Bank, and NAB Private Wealth.