National Australia Bank has finally caught up with industry chat and outlined a revised "business model for high net worth market."                    NAB yesterday said it would rebrand its private banking arm as NAB Private.The bank announced that, "under the new model, NAB Private will become a pure private banking proposition for high net worth clients."NAB Private "will also connect clients to JBWere, its specialist private wealth advisory business."The bank said more than 60 NAB Private employees will move across to JBWere.JBWere has been a modest earner for NAB, producing a net profit of A$7 million in 2015, up from $4 million in 2014.The AFR last month reported NAB paid Goldman Sachs $20 million for the remaining 20 per cent stake in JBWere. NAB bought 80 per cent of JBWere from Goldman Sachs for about $99 million in 2009.