Following a restructure of its private banking business, NAB's group executive for wealth, Andrew Hagger, has been tapped to chair the bank's private wealth management arm, JBWere.
The restructure, which took place on 8 April 2016, will see NAB private banking clients referred to JBWere.
NAB chief executive Andrew Thorburn said: "I am delighted to appoint Andrew to this role. His expertise and counsel, including his deep knowledge of this business and the wealth sector, will serve the board well."
For his part, Mr Hagger said he felt "privileged" to move into the chairman's role.
"We know there is real desire for expert wealth management advice amongst high net worth clients, but this market is largely underserviced," Mr Hagger said.
"Our new high net worth wealth business model is designed to meet that need and forge a new way forward for private wealth advice," he said.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 19 Mar 2018Partnership launches 'alternative to self-licensing'By Aleks Vickovich
- 19 Mar 2018ANZ to suspend asset finance lendingBy Staff Reporter
- 19 Mar 2018CommInsure partners with industry fund on claimsBy Staff Reporter
- 19 Mar 2018ASIC disqualifies jailed SMSF auditorBy Staff Reporter
- 19 Mar 2018Australian advisers unprepared for exitBy Killian Plastow
- 16 Mar 2018CBA CEO pushed for FOFA extensionBy James Mitchell and Aleks Vickovich
- view all