AMP chairman David Murray says the board “in no way condones the behaviour” of the newly appointed AMP Capital boss Boe Pahari, who it last month promoted to run the $192 billion asset management division.
AMP Australia chief executive Alex Wade has admitted he had been too slow to deliver on overhauling "behaviours" in the company's sprawling wealth and retail divisions, as the company deals with the fallout from The Australian Financial Review’s revelations Mr Pahari was promoted despite recently being penalised after the company settled a sexual harassment claim brought by a female subordinate.