NAB is rejigging its wealth management offering after achieving 100 per cent control of the firm JBWere.

National Australia Bank is restructuring its private bank into a pure high net worth banking shop, and leaving wealth and advice services in the hands of JBWere, the business it now owns in full, according to the Sydney Morning Herald. 

The bank has transferred about 65 wealth advisors from its private banking arm to JBWere. The move comes two months after NAB bought the remaining 20 per cent stake in wealth group JBWere. NAB acquired 80 per cent of JBWere for about $99 million in 2009 from investment bank Goldman Sachs. 

"We've relocated wealth advisors across to JBWere, so we are bankers and [JBWere] is our wealth managers," Christine Yates, executive general manager of NAB Private, was quoted as saying.

Justin Greiner, chief executive of JBWere, said the group's wealth advisors would recommend NAB bankers to wealth customers looking for banking services, and vice versa.