Macquarie nabs NAB specialist banking team

3 November 2009 | by Lucinda Beaman

Macquarie has nabbed a specialist banking team from National Australia Bank (NAB), led by Moustafa Fahour.

Fahour has been appointed as head of Macquarie Private Bank – key families, a role in which he will support the group’s ultra high net worth family clients in Australia and New Zealand.

Fahour will be joined at Macquarie by senior investment advisers Cameron Elridge and Andrew Papageorgiou, two of his colleagues from NAB. Fahour left Macquarie two years ago to build the family office business at NAB.

Fahour and his team will be based in Melbourne. The team will also provide support to Macquarie’s Asian family office business, headed by Joseph Poon, a statement from Macquarie said.

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1MM-AdviserPenalties Are penalties against advisers enforced by ASIC stringent enough and do they deter bad practice?

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Yes, but they are not enough of a deterrent.
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