According to NAB, the joint business will enable a better use of investment skills across both businesses and improve investment outcomes and product solutions for clients.
NAB also said it will position the business to better capitalise on changing market conditions.
The new business will consist of two parts, both operating under the JANA name but forming part of the broader NAB Asset Management Division.
The advice and research team led by Ian Patrick will provide asset consulting services and provide all investment manager research for the group.
The portfolio management team led by Jonathan Armitage will be responsible for the construction and ongoing management of all multi-manager sector portfolios and all diversified portfolios provided through NAB Group platforms to both retail and institutional clients.
NAB asset management general manager Gary Mulcahy said the investment expertise and achievements of both teams put the business in a strong starting position.
"Together, we have an extraordinary breadth and depth of investment talent that will be even more effective in helping any client achieve their investment objectives,” said Mr Mulcahy.
