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
- 10:02Former Dover and Synchron adviser banned for five yearsBy Eliot Hastie
- 09:37Very few Australians save and even fewer invest their moneyBy Reporter
- 09:49Advisers undercharging clients for efforts, says CEOBy Adrian Flores
- 23 Jan 2019Adelaide adviser permanently banned from industryBy Eliot Hastie
- 23 Jan 2019Bowen slams ‘woeful’ handling of royal commissionBy James Mitchell
- 23 Jan 2019Gender super gap lower but still at 34%By Adrian Flores
- view all