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Karen Maley

The value destruction at AMP is only just beginning

The Debra Hazelton-led AMP board risks a major exodus of key talent after publicly putting the wealth management giant's businesses on the block.

Karen MaleyColumnist

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Let's hope that the hapless AMP board had enough nous to dangle lucrative retention bonuses in front of key executives before it publicly hung out the "for sale" sign on the company's various businesses.

Because if it hasn't taken this precaution, the troubled wealth management giant risks a wholesale exodus of its most talented executive and staff members, the likes of which has not been witnessed in corporate Australia.

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Karen Maley writes on banking and finance, specialising in financial services, private equity and investment banking. Karen is based in Sydney. Connect with Karen on Twitter. Email Karen at karen.maley@afr.com

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    Original URL: https://www.afr.com/companies/financial-services/the-value-destruction-at-amp-is-only-just-beginning-20200908-p55tgh