National Australia Bank (NAB) has announced the completion of its 80.1 per cent acquisition of Goldman Sachs JBWere’s (GSJBW) private wealth management business in Australia and New Zealand.
The new business will be branded JBWere. The strategic alliance transaction was first announced on 29 July.
Commenting on the move, NAB chief executive Cameron Clyne said the acquisition had significantly enhanced the bank’s wealth offering and was a strong strategic fit with NAB’s ambition to strengthen its position in the wealth management market.
NAB announced on Friday that it had completed its acquisition of Challenger Mortgage Management, which will be branded as AdvantEdge.
