It pockets roughly one - quarter of its earnings from each of its four distinct divisions — domestic banking, international banking, corporate banking and finally its
global wealth management operations — while half its bottom line comes from outside Canada.
This included the unwinding of some shadow banking and interbank activities, controls
on wealth management operations, trust structures and interbank lending structures.
National Australia Bank will carve out its MLC unit, joining a broader move by Australia's big banks to exit
their wealth management operations.
If a bank stops to act as a bank and is just a money or
wealth management operation, then it should not have the right to be called a bank.