National Australia Bank Limited (ASX:NAB) signalled it would snap up a remaining stake in JBWere Pty Ltd. NAB would exercise an option to acquire the remaining 19.9% share in JBWere from Goldman Sachs Group, Inc. (NYSE:GS). NAB will buy the stake after taking control of JBWere in 2009 when it acquired 80.1% of the business from Goldman Sachs for $99 million. While the price was not disclosed, it is understood to be in the order of $15 million to $20 million.

Justin Greiner, Head of JBWere, said, "NAB's decision to take full ownership of JBWere was a "vote of confidence" in the stockbroking and private wealth business."