AXA Asia Pacific Holdings and Alliance Capital Management are creating jointly owned money management companies in Australia and New Zealand. Alliance Capital will have day-to-day management responsibility for Alliance Capital Management Australia and Alliance Capital Management New Zealand which initially will manage A$23 billion (U.S.$12.2 billion) in assets, consisting of A$17 billion in AXA Asia Pacific assets and A$6 billion in Alliance Capital assets.
AXA Asia Pacific and Alliance Capital are controlled by AXA Group.
