After exiting Beijing last year, the decision will make Shanghai its only operating base in China.
NAB is the second big Australian financial firm to leave the Chinese financial hub this year, after Westpac’s departure in June.
NAB is the second major Australian financial institution to be leaving the Chinese financial hub this year, following the exit in June of Westpac, which was fined by Hong Kong authorities for breaching anti-money-laundering and counter-terrorism rules. “A small number of corporate and institutional bankers” would also be affected, with some to be offered re-employment and relocation, NAB said.
“The decision was made following a thorough assessment of our strategy and reflects our ambition to align our corporate and institutional business with the greatest opportunities for NAB and our clients,” Baetens said in an emailed statement.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Emergency declared for Australian outback town under threat from major bushfireCANBERRA: Authorities have declared an emergency situation for an Australian outback town as a major out-of-control bushfire continues to grow. Nicole...
Leggi di più »
Cops nab couple suspected of abusing 6-year-old boyJempol police say the victim is believed to have been beaten by hand and a wooden ladle, kicked and caned.
Leggi di più »
Cops nab couple suspected of abusing 6-year-old boySEREMBAN: Police have detained the father and stepmother of a six-year-old boy in Bahau here on suspicion of abusing him since March.
Leggi di più »
Cops nab couple suspected of abusing 6-year-old boy in N9SEREMBAN: Police have detained the father and stepmother of a six-year-old boy in Bahau here on suspicion of abusing him since March.
Leggi di più »
Police nab six individuals, seize drugs worth RM102,293GEORGE TOWN: Police arrested two couples and two men and seized various types of drugs worth RM102,293 in a series of raids around the Timur Laut dist...
Leggi di più »
Ringgit opens higher vs US$, major Asean currenciesKUALA LUMPUR: The ringgit opened higher against the US dollar and major Asean currencies ahead of the release of the United States’ (US) inflation data, supported by soaring oil prices, said an analyst.
Leggi di più »