NAB Private Wealth named Best Local Private Bank: Australia

Friday, 5 March 2010

NAB Private Wealth has been named Best Local Private Bank in Australia in the annual Euromoney Private Banking and Wealth Management Survey 2010.

NAB Private Wealth’s top ranking was announced in the latest edition of global finance magazine Euromoney and is based on a combination of performance figures and nominations from peer private banks.

Angela Mentis, Executive General Manager of NAB Private Wealth, said: “It is a great honour to be rated Australia’s best local private bank in the Euromoney poll, especially as the ranking is based on peer feedback. Your peers are always your toughest critics so to be rated highly by them is something I’m very proud of.

“We have been working very hard at NAB Private Wealth to change how our industry services Australia’s high net worth individuals. Private banking in Australia is still relatively young and we have focused on understanding our clients’ needs in order to better align our business with those needs.

“For example, the needs of an ultra high net worth family are quite different from an up-and-coming entrepreneur. It is therefore important that we have right team, with the right skill sets, in place to satisfy the needs of both of these client groups.

“We have also spent a lot of time with the world’s best service providers learning how to improve service levels and introducing international best practice to Australia. As part of this drive we have recruited talent from Europe’s private banks in order to introduce Swiss-banking style expertise to our business.

“These initiatives are bearing fruit thanks to the team’s dedication, and the Euromoney ranking is testament to the hard work of our 400 private bankers across the country,” said Ms Mentis.

About the Euromoney Private Banking Poll

According to Euromoney’s website the Euromoney Private Banking and Wealth Management Survey was first published in 2004 and is the global industry benchmark for the wealth management industry.

Results are based on a combination of performance figures and nominations. This year Euromoney received a total of 1,800 votes, up almost 10% from last year’s poll. Votes cast represented $6.8 trillion of assets under management. A full methodology is published online at euromoney.com.