NAB announced yesterday that it had entered into an agreement with the diversified financial services firm IOOF to sell its National Australia Trustees business. IOOF described its trustee business, Australian Executor Trustees, as "one of Australia's largest and most experienced specialist providers of estate and trustee services". The move follows a strategic review of the business by NAB, said Andrew Rimmer, NATL chief executive officer.This outcome will further expand both IOOF and AET's national presence in offering specialist trustee services. IOOF managing director, Christopher Kelaher, said that NATL was "a strong strategic fit with our existing trustee business". Completion of the sale is "subject to regulatory approval", NAB said in an ASX announcement. The deal is expected to be finalised in the next few months, and will leave IOOF as one of Australia's largest compensation trust providers. Financial terms were not provided by either party to the deal.