National Australia Bank has announced the appointed of a new Chairman of JBWere. Part of the NAB Group JBWere has more than 500 people across its nine offices.
National Australia Bank (NAB) CEO Andrew Thorburn has announced that Andrew Hagger, Group Executive NAB Wealth, has been appointed as Chairman of JBWere.
Hagger joined NAB in 2008 to lead the Private & Institutional Wealth business and has since held a number of senior roles in the bank, including Executive General Manager of MLC & NAB Wealth’s insurance business and Group Executive People, Marketing & Communications. Currently, he is the Group Executive, Wealth, and the CEO of MLC, and is responsible for NAB’s asset management, superannuation, investments, wealth advice and insurance businesses.
Prior to joining NAB, Mr Hagger spent 21 years with PricewaterhouseCoopers (PwC) in various roles, including Melbourne Managing Partner and a member of PwC’s Firmwide Leadership Team.
«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,» said Thorburn.
Pure Private Bank
finews.asia recently reported on NAB’s new business model for the high net worth market encompassing both JBWere and NAB Private (formally NAB Private Wealth). Under this new model, NAB Private is to become a pure private banking proposition for high net worth clients, offering specialised services such as, structured finance.
JBWere with over $4 billion in assets under management is 100 percent owned by the NAB Group and has embarked on a new Australian strategy of non-exclusive research and distribution arrangements, announcing in January a new strategic alliance with investment bank UBS, and, in April, a new strategic research and distribution alliance with investment bank, Moelis Australia. These alliances help JBWere continue to provide market leading insights, advice and exclusive investment opportunities to their clients.
