AMP 'will disappear': 171-year-old icon up for sale

Just over a week after David Murray resigned, new chairman Debra Hazelton has placed a bet each way that Francesco De Ferrari’s last-chance bid to salvage AMP may not be worth following through.

Wealth giant AMP has put itself up for sale. Michel O'Sullivan

Michael RoddanNational correspondent

Updated Sep 2, 2020 – 5.10pm, first published at 4.41pm

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Debra Hazelton's decision to take all of AMP's eggs out of Francesco De Ferrari's basket could either result in nothing, or it could spell the end of the 171-year-old Australian icon as we know it.

When the former Credit Suisse banker was appointed to run the company, former chairman David Murray described De Ferrari as the “last decent chance AMP had”.

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Michael RoddanNational correspondentMichael Roddan is a Walkley Award-winning national correspondent based in Sydney. He is a former business and economics reporter for The Australian.