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National Australia Bank Restructures Private Bank

National Australia Bank is restructuring its private banking division and will prompt redundancies. It is planning to let go almost 20 private bankers as it adjusts the unit to focus more on ultra high net worth and high net worth clients.

“National Australia Bank is restructuring its private banking division and will prompt redundancies.”

The bankers will either face redundancy, redeployment or can apply for 27 newly created roles. However, it is not clear if the new positions are at the same level of those being cut.

News Source: Australian Financial Review

 

About National Australia Bank

NAB Bank
NAB Bank

National Australia Bank (NAB) was founded in 1858. Today, it has more than 35,000 people serving 10 million customers at more than 800 locations in Australia, New Zealand and around the world. As Australia’s largest business bank, it works with small, medium and large businesses to help them start, run and grow.

  • Origin : Melbourne, Australia
  • Assets : AUD 955.05 billion
  • Revenue : (PBIT) AUD 9.08 billion
  • Employees : 35,000

Official Website: www.nab.com.au

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News & Media: Press Release

Updated on 8th August 2016



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