National Australia Bank is preparing to hand down redundancies to about 10 per cent of the staff manning its markets division, Street Talk can reveal.
National Australia Bank is preparing to hand down redundancies to about 10 per cent of the staff manning its 600-strong markets division, Street Talk can reveal.Sources said NAB would begin working through the job cuts as early as this week, but was yet to formally announce the changes internally. They are expected to be targeted at the capital markets types working within NAB’s corporate and institutional banking unit, where its markets business sits with a team of about 600.
“We regularly look at the ways we work to ensure we are serving our customers well. If change occurs that impacts roles, our priority is on ensuring we provide care and support to those individuals impacted,” a spokesperson for NAB said. The markets team is well known to investors and bankers, being a regular in big corporate bond issues and in leveraged buyout financing. Just last week, it was among the banks working on NAB’s own hybrid issue as well as on
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia is facing an intergenerational 'tragedy' that demands big picture discussions about the futureThe latest Intergenerational Report paints a picture of an Australian landscape working in a very different way to ones we have seen in the past. There is no room for blank spots, writes Laura Tingle.
Read more »
Rift in car industry over ‘loophole’ in national electric vehicle schemeTesla has accused the automotive industry’s peak lobby group of seeking loopholes that could weaken new fuel pollution limits and slow the uptake of EVs.
Read more »
Rift in car industry over ‘loophole’ in national electric vehicle schemeTesla has accused the automotive industry’s peak lobby group of seeking loopholes that could weaken new fuel pollution limits and slow the uptake of EVs.
Read more »
Rift in car industry over ‘loophole’ in national electric vehicle schemeTesla has accused the automotive industry’s peak lobby group of seeking loopholes that could weaken new fuel pollution limits and slow the uptake of EVs.
Read more »
‘We’ve never had that’: Goorjian on the Boomers’ big advantage as ‘dangerous’ Ingles thrives‘We’ve never had that’: Coach reveals Boomers’ big World Cup advantage
Read more »
Jones names new Wallabies captain as star earns big re-callJones names new Wallabies captain as star earns big re-call
Read more »