Macquarie nabs NAB specialist banking team
Macquarie has nabbed a specialist banking team from National Australia Bank (NAB), led by Moustafa Fahour.
Fahour has been appointed as head of Macquarie Private Bank — key families, a role in which he will support the group’s ultra high net worth family clients in Australia and New Zealand.
Fahour will be joined at Macquarie by senior investment advisers Cameron Elridge and Andrew Papageorgiou, two of his colleagues from NAB. Fahour left Macquarie two years ago to build the family office business at NAB.
Fahour and his team will be based in Melbourne. The team will also provide support to Macquarie’s Asian family office business, headed by Joseph Poon, a statement from Macquarie said.
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.