NAB confirms North sales talks
National Australia Bank (NAB) has confirmed that it would be prepared to divest the AXA North platform if it gained control of AXA Asia Pacific (AXA AP).
NAB announced to the Australian Securities Exchange (ASX) today that it was in preliminary discussions with AXA AP and the Australian Competition and Consumer Commission (ACCC) with this scenario in mind.
“However, at this stage there is no assurance that such a possible divestment will occur or that it will address the concerns raised by the ACCC,” the announcement said.
AUTHOR
Mike Taylor
Recommended for you
Financial advisers and wealth managers need to exceed their clients’ desires for personalisation, a new EY report writes, and the requirements for this will vary between client segments.
Betashares chief executive, Alex Vynokur, believes technology advancements will enable banks to return to financial advice in the future as the need for advice is greater than ever.
Centrepoint Alliance has upgraded its expected financial results for FY24, thanks to strong adviser recruitment and the acquisition of Queensland advice firm Financial Advice Matters.
The corporate regulator has permanently banned a Melbourne-based financial adviser that “dishonestly attempted to induce clients to transfer their superannuation into a bank account he controlled”.
