The National Australia Bank has poached as many as 60 Axa Asia International financial planning businesses after the Australian Competition and Consumer Commission (ACCC) blocked a similar move last year.


The Australian Financial Review has reported that 26 practices from Axa Asia have defected to the NAB, circumventing the ACCC’s blocking of any direct acquisitions of AXA APH.


A similar number of AXA practices have signed memorandums of understanding that will see them move to NAB’s subsidiary MLC over the coming three to six months.