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ANDREW BANKS NET WORTH 2021 – A CLOSER LOOK AT THE AUSTRALIAN SHARK

How did this salesperson from door to door be one of today’s well-known entrepreneurs and film makers today and have a worth of around $300 million? Let’s have a look.

Where Does He Rank Amongst the Top Sharks

SharkNetworth
Glen Richards$700 Million
Andrew Banks$300 Million
Janine Allis$66 Million
Steve Baxter$50 Milllion+
Naomi Simson$40 Million
  

Andrew Bank’s Family & Early Life

Andrew Banks was the 5th of six brothers. His father was an officer sergeant in the Medical Corps of the British Army and his mother was born in Vienna and was living in Gdansk, Poland, and was fluent in six languages.

Following the time that Banks family relocated to Chichester in the year 1961 and he went to a local state grammar school. He also took part in amateur drama productions. After completing 10 O’ levels along with 4 “A’ grades, Banks was accepted into several UK universities. He decided to pursue a degree in Science and Mathematics at London University.

After passing a year and half of tests for Applied Biology, Banks started working as a part-time door-to door salesman, selling paintings later becoming the director of the business and was in charge of an office with 10 teams.

Banks was also able to use his acting expertise to perform voiceovers, and even employed two individuals to sell fashionable “Carnaby Street” shirts in the cafeteria at the university.

But, Banks university degree halted because an Australian friend offered to sponsorship to allow him to move from Australia in the final phase of the Assisted Passage Migration Scheme. Andrew was admitted to Sydney, Australia, in 1972, as an “Ten Pound Pom.”

ANDREW BANKS QUICK FACTS

Full NameAndrew Richard Banks
Date of Birth30 th November 1951
NationalityAustralian
ProfessionEntrepreneur, Film Producer
MarriedMarried To Andrea Banks
Children1 Sophia Banks Coloma
  

ANDREW BANKS’ EARLY CAREER

After the move from the United States to Australia, Banks sought after an acting career. He was a student in Shakespearean Training at the Old Tote Theatre Company (now NIDA the National Institute of Dramatic Arts). He played small roles in the television show Number 96 and the Old Tote Theatre Company’s production Macbeth in Sydney Opera House in 1974. Sydney Opera House in 1974.

In a completely different direction, Banks decided to buy into the Red Pavilion Bar and Restaurant in Woolloomooloo and repaid his first capital 14 months after.

Maybe his wedding with his Australian partner, Andre, in 1974 is the reason he decided to find a more steady job. After their trip to Australia the search for a job began.

A SPARK LITE FOR A CAREER IN HR

As oil could ignite an ignition, when working with the French energy company Elf Aquitaine, Banks’ fascination with Human Resources and recruitment was initiated. After arriving in London the roles were followed by Brown and Root (now Halliburton) which involved moves from Norway, USA and then returning in the UK as HR Director Regional in the Europe as well as Africa Marine Division.

Following his return to Australia in the year 1980, Banks accepted an advertised job as a recruiter at Slade Consulting in Sydney. He established and opened the company’s new Brisbane office. Later, he returned to Sydney to oversee each of the Sydney and Brisbane offices until the end of December.

Alongside his Business partner Geoff Morgan, Banks co-founded the recruitment firm, Morgan and Banks, in the year 1985. The business quickly increased to have 17 percent of the market within Australia and Asia and had sales of exceeding A$850m, the company went public in the year 1995.

The merger formed by Morgan and Banks and TMP/Monster, a listed US NASDAQ company, occurred in 1999. Banks was living in New York with TMP Worldwide as the Global Director. the charge for more than 500 acquisitions and 4,500 employees working in 32 countries was placed onto his feet. Banks returned to Sydney in 2002.

In December 2003, Banks created Talent2 International (which had operations in 20 countries prior to it was privatized in 2012 as the joint venture of Morgan & Banks Investments (MBI) and US company, Allegis Group Inc, the largest privately-owned recruitment firm worldwide).

This ASX-listed business focused in HR Outsourcing along with executive Search and Selection, had Geoff Morgan serve as its Non-Executive Director. In July 2014, the 100 percent deal to acquire Talent2 from Allegis Group Inc, was completed. Banks was an advisor to the Search process of the company up to July 2015.

From 1988 onwards, Andrew Banks has been investing in different types of businesses in Australia which include construction of properties and home renovations, hotels in residential areas (Sebel Manly), commercial property (53 Martin Place), and operating businesses like Krispy Kreme Australia, a cosmetics retailer, and an online company for recruiting.

Like he’s probably most well-known, Andrew Banks starred as one of the Sharks in the first episode on Shark Tank in 2015. In this show, he made investments the company in Bottlepops, Synxsole and the Hamdog.

Banks returned in 2016 for Season Two of Shark Tank Australia along with Season Three, which aired in 2017. Prior to that, the highest amount of money invested by Shark Tank was $750 000.

Banks certainly pushed this to the limit by setting a brand new standard by investing $2.5 million into Kane Bodiam’s coffee company which earned Andrew Banks a 22.5 percent stake. Banks said that putting such large sums of money into iCapsulate was an easy decision.

Presently, Banks is the Resident Entrepreneur at Sydney’s Tank Stream Labs, part of the biggest hub for start-ups in Australia. Banks is also active in investing into more than twenty start-ups , including spirits that are non-alcoholic as well as an online educational tool for children.

Andrew Banks’ is generous in providing tips and advice on how to create an empire, to establish an environment that draws and keeps top talent and how to implement strategies that contribute to rapid expansion, and, most importantly getting to the balance between work and life.

Andrew Banks is also a extremely practical and logical man, as evident by his subsequent two remarks: “I’m looking for an enlightened mind, a solid strategy, and the capability to implement their vision to create a strong team culture, and we’d hire based on personalities as well as their style and enthusiasm.

Therefore, we’d use Accounting professionals to hire Accountants and Engineers to hire Engineers. We seek out whom the person is as different from what they were did previously.”

ANDREW BANKS’ OTHER ACTIVITIES

Andrew Banks still holds fast to his passion for theatre and film, and is able to look for ways to promote it.

He was the chairman of the NIDA Foundation Trust (National Institute of the Dramatic Arts Foundation Trust) and continues to be the Trust Director, even after his departure in 2014.

Banks is the founder and producer of a production firm, Lila 9th Productions, along alongside Cameron Lamb and the company is in the process of developing new ideas.

Lila 9th Productions’ completed film projects include ‘Daydream Nation’ (Canada), ‘Syrup as well as ‘Kumiko, The Treasure Hunter’, which was awarded the Sundance award in 2014.

Andrew Banks joined the YPO (Young Presidents’ Organization) in 1988. He is still as an active member of the group of business leaders WPO (World presidents’ Organization).

Alongside Geoff Morgan, Andrew Banks has co-authored 4 books on recruitment:

Andrew Banks and Geoff Morgan received Geoff Morgan and Andrew Banks won the Ernst & Young Australia, Master Entrepreneur of the Year Award (Eastern Region) for their consistent growth in their businesses in 2004.

In 2015 also Geoff Morgan and Andrew Banks both received accolade of the Top 5 Most influential people from the HR fraternity, in the last 60 years.

THE KEY TAKE AWAY                       

There’s something to be loved about Andrew Banks. His genuine enthusiasm to help business owners achieve success in every aspect of their businesses is apparent when you consider the quantity of time he’s dedicated his life to and establishing two of the largest HR and recruitment companies in Australia that ultimately provide incredible benefits to everyone who are.

Andrew Banks may be a highly successful and multi-talented man however, it requires more than just talent and talent to do what he can and create a foundation that is as strong as his. According to Banks his self, one require an energy and a goal to achieve success in the work you do.

“Money is not the primary goal of any good business.” The outcome is money. Do not start a business solely to make money, since it’s not enough. You need to be able to demonstrate a compelling reason and a solid business model, meet your customers’ requirements … And then the money will follow.” Andrew Banks. Andrew Banks

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