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NAB Private Now In Western Sydney

The bank has extended its private wealth arm to South West Sydney.

By Kanebridge News
Mon, Sep 20, 2021Grey Clock 2 min

As a pointed, further announcement of the area’s elevation and reflection of the wealth being generated in Western Sydney, NAB has again shown its acute market connectivity and foresight with the recent opening of a new Private Wealth service in Liverpool.

Offering banking and investment specialists as well as wealth advisors, Kanebridge Financial Services Adviser Marwan Rahme, caught up with the branch’s Senior Private Client Manager, Ajith Kalliat Thazhath, to discuss the future, learn more of what’s on offer and the experience that comes with NAB’s alignment to JBWere.

Kanebridge News: How does one qualify for private banking with NAB — is there a specific portfolio / net worth figure involved  
Ajith Kalliat Thazhath: Private banking focuses on relationships with high net worth individuals and families to help enhance their wealth and secure their future. In order to qualify for private banking, the income threshold is $400K pa (combined) and lending requirements of $2.5 million or investible assets of $2.5 million. On a case to case basis, we also consider budding professionals  like partners in law firms, accounting firms, medical specialists  where we believe they have the potential to grow. 

KB: What does NAB Private offer a client over the day-to-day? 

AKT: Apart from managing day-to-day banking efficiently, NAB Private Bank helps with planning the future, building wealth, managing the debt and protecting the wealth for the next generation. NAB Private Banking brings together the combined expertise of a banking specialist, investment specialist and wealth advisor. We have a dedicated private banker for a client who engages the required specialist at the right time and builds a long term relationship with the family. We also bring together the deep expertise of one of Australia’s leading wealth advisers in JBWere, which is owned by NAB. With over 180 years of experience, the JBWere wealth adviser offers world-class investment research, wealth and investment management advice and philanthropic services.

KB: Why is opening NAB private in Liverpool such a coup — what does it say about wealth generation in the area? 

AKT: South Western Sydney, and Liverpool in particular, are witnessing a major transformation and growth. NAB plays an important part in the Liverpool community and has had a strong presence for many decades. With unprecedented growth comes the opportunity for creating wealth and securing the future for many high net worth families and individuals. NAB Private aims to help South Western Sydney and Liverpool enjoy the benefits of private banking.

KB: How would you describe the client base in regards to their professional pursuits?

AKT: NAB Private Banking client base comprises of Australia’s most forward thinkers, people who have made a difference in their areas of expertise.

KB: How do you view the western Sydney property market — and expectations regarding growth in the coming 3-5 years? 

AKT: Western Sydney property market is booming and expectations are it will continue to grow due to the various growth programs in play by the Government. With the Aerotropolis coming in 2026, there is every likelihood of more professionals, c-suite executives working in the region triggering demand for property. Areas like Gledswood Hills and Sekisui’s Norman Estates have already transformed to cater for the demand.

NAB Private Wealth
1&2, 50 Macquarie Street, Liverpool NSW 2170; nabprivate.com.au or get in contact with Ajith via ajith.kalliatthazhath@nab.com.au

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