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On August 11, 2004, the National announced it would be moving away from a divisional model to a regional business model to enable us to improve integration across divisions and build a more customer-focused organisation. This took effect from October 1, 2004.
This means the National is now organised around three regional businesses: Australia, Europe and New Zealand. In addition, Institutional Markets & Services is a global line of business, and there are also streamlined corporate centre functions and cross-regional business operations.
Corporate Centre
The corporate centre includes streamlined functions that support all the regional businesses, including Technology, People & Culture, Finance and Risk Management, Major Projects, Corporate Strategy, and Corporate Affairs.
Australia
The Australian division incorporates Financial Services Australia, Wealth Management, Australian corporate banking services, Transactional Solutions and Custody Services.
Europe
In Europe, the National’s operations consist of its four United Kingdom and Irish banks (Clydesdale Bank, Yorkshire Bank, National Irish Bank, and Northern Bank) and also wealth management services.
New Zealand
Bank of New Zealand incorporates retail, corporate banking and Custody Services. The New Zealand division also provides wealth management products and services.
Institutional Markets & Services
The former Corporate & Institutional Banking, which has been relaunched as Institutional Markets & Services, is a global line of business covering all the National’s regions. It incorporates Markets, Portfolio Management and Syndications, Credit Products, Structured Products, Financial Institutions, Services and the New York branch.
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