National Australia Bank introduces new private wealth brand in Asia
National Australia Bank (NAB) has unveiled its NAB Private Wealth brand. NAB is a leading integrated wealth manager in Australia in terms of market share.
According to Dean Cleland, general manager, NAB Private Wealth, Asia, the introduction of the NAB Private Wealth brand in Asia is aimed at aligning the bank’s brand image, client servicing model, wealth management expertise and thought leadership to deliver a consistent client experience across Australia and Asia.
“NAB Private Wealth is a key component of the NAB Group’s strategy in Asia. Flows of capital and people between Asia and Australia/New Zealand have continued unabated over the past few decades. As personal wealth grows significantly in this region, high net worth clients here are looking for a strong partner with a client-centric approach, stability, and a proven track record. Our experience in servicing Asian families and investors in both Asia and Australia has given us deep insights into their wealth needs and concerns,” Cleland said.
Angela Mentis, executive general manager, NAB Private Wealth, added: “With Australia’s increasing focus on closer integration with the region in this Asian century, we are very excited about the growth prospects of our wealth management franchise in Asia. Our priority in expanding our business to Asia is to deliver a consistent experience to our clients, irrespective of where they are located. Ultimately, our clients are at the heart of everything we do. With each business decision we undertake, we ensure our key driver is our ability to enhance our clients’ experience.”
One of the cornerstones of NAB Private Wealth’s client-centric delivery is its specialist client segment approach to tailor its offering to clients with similar demographic and professional needs. In Asia, this entails dedicated banker attention on the wealth management needs of corporate executives, professionals, women with wealth, and Australia/New Zealand-linked individuals.
“Our goal is to partner with our clients and their families to provide personalised banking and wealth management solutions tailored to their individual needs. Our long-term goal in Asia is to partner with them as they make life decisions, assisting them to understand, create, protect and transfer their wealth,” said Cleland.
NAB Private Wealth is currently operating in Hong Kong, Singapore and Japan. It offers a range of deposit and lending solutions to clients that cover a wide range of currency alternatives. It also specializes in offering property financing solutions for local, Australian, New Zealand and UK properties. In Hong Kong, through its wholly-owned subsidiary, Calibre Asset Management, it also provides clients with global investments and retirement planning solutions.
Cleland added: “The competitive advantage that we offer to our clients lies in our Australia and New Zealand-related expertise. These include NAB’s industry-leading Australian and New Zealand dollar capabilities and our unparalleled research insights into the Australian and New Zealand markets. We believe the opportunity to share NAB Group’s expertise in retirement planning and pension solutions will become increasingly relevant as Asian economies start to face the challenges of progressively ageing populations in the coming years.”
NAB has been providing banking services to private individuals and corporate clients in Asia for over 40 years, in particular servicing Asian customers with Australia and New Zealand linkages, or those who are interested in the value and potential of Australian and New Zealand investments and assets.