In an inspired marketing move AXA Asia Pacific is using the Australian Competition and Consumer Commission’s (ACCC) blocking of National Australia Bank’s (NAB’s) proposed takeover of the company to sell its North platform — the product that ultimately sank the bid.
A national advertising campaign launched by AXA today and to be run over the next fortnight seeks to make a silver lining out of the ACCC’s stymieing of its proposed marriage with NAB.
“AXA’s North. The one investment platform so hot the ACCC didn’t want a bank to nab it,” one ad reads.
And: “A bank can’t get their hands on AXA’s North. But you can.”
In the fine print the group states the ACCC opposed the deal “because of the innovative North platform”, before outlining the features of its North investment guarantee and directing potential clients to see a financial adviser.