The failure of AMP to buy Axa Asia Pacific (AAP) may have turned Australia's second-biggest...

|By:, SA News Editor

The failure of AMP to buy Axa Asia Pacific (AAP) may have turned Australia's second-biggest asset manager from predator to prey. Australia's big four banks are barred from merging with each other, so they're eyeing the country's $1.3T in managed funds. Asked if they were interested in bidding for AMP, the CEO for the "logical" buyer - Alex Thursby of ANZ Bank - said "No. We are a bank."