Embattled wealth manager AMP will commence a comprehensive review of its own assets and businesses with a potential break-up of the 171-year-old company on the cards via trade sales or divestments.
New AMP chairman Debra Hazelton has appointed investment banks Credit Suisse and Goldman Sachs and law firm King & Wood Mallesons to conduct a portfolio review which may recommend a change in AMP's mix of assets.
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Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
