National Australia Bank (NAB) is set to undergo organisational and executive changes following the sale of 80% of its life insurance business to NAB Wealth. The bank is expected to create a combined consumer-banking and wealth-management division and enhance its technology and operations division. Nippon Life group executive Andrew Hagger will become the head of the combined wealth management and consumer banking unit while a merger between the banks' business and private banking divisions will be headed up by Angela Mentis.
National Australia Bank (NAB) is set to undergo organisational and executive changes following the sale of 80% of its life insurance business to Nippon Life. The bank is expected to create a combined consumer-banking and wealth-management division and enhance its technology and operations division. NAB Wealth group executive Andrew Hagger will become the head of the combined wealth management and consumer banking unit while a merger between the banks' business and private banking divisions will be headed up by Angela Mentis.