AMP will be led by ANZ deputy chief executive Alexis George as the 172-year-old company finally announced the retirement of Francesco De Ferrari just a week after attempting to hose down reports in The Australian Financial Review he was resigning.
Shares in AMP raced 4 per cent higher on the news, jumping off a 12-month low.
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Michael Roddan is a Walkley Award-winning national correspondent based in Sydney. He is a former business and economics reporter for The Australian. Connect with Michael on Twitter. Email Michael at m.roddan@afr.com
