Mr Heath joined JBWere in 1994 as an adviser and was at the helm to oversee the group’s 2009 strategic alliance with NAB.
He was appointed managing director – private wealth management in 2006 before becoming CEO, NAB said in a statement.
“In 19 years' tenure with JBWere, and in particular his four years as CEO, Paul has been focused and committed in driving the momentum of the business,” NAB Wealth group executive Andrew Hagger stated.
“Paul has transformed a brokerage-focused business into Australasia’s pre-eminent private wealth management firm. We thank him for his significant contribution in leading the business through change and wish him well for the future.”
Mr Heath said he was privileged to have been a part of the firm over the past 19 years.
“I have had the opportunity to work with an extraordinary group of colleagues and clients over an extraordinary period of time – for both the firm and financial markets. I reflect with great pride on what we have achieved together,” he said.
According to NAB, Mr Heath will remain in the business until mid-July to support the transition to an interim CEO. NAB said it will “conduct a thorough internal and external search for a permanent replacement” in conjunction with the JBWere board.
