National Australia Bank’s continuing restructuring of its UK businesses will see the combining of its private banking and wealth management ...

National Australia Bank’s continuing restructuring of its UK businesses will see the combining of its private banking and wealth management businesses, according to reports in the UK media. The combined businesses are expected to lead to job losses. NAB plans to combine all its wealth management and private banking businesses at subsidiaries Yorkshire and Clydesdale banks. Both banks are currently rolling-out millionaire centres in the UK. Clydesdale earlier this year said it plans to open 30 branches for wealthy customers throughout the South-east of England.