Goldman Sachs joins Credit Suisse as AMP takeover defence adviser
Goldman Sachs joins the AMP investment banking team of advisers, as potential buyers continue to run the numbers on the wealth group.
Goldman Sachs is understood to have joined under-pressure AMP’s team of investment banking advisers, alongside Credit Suisse.
Sources told The Australian Goldman had emerged in the AMP camp, in a role that would likely involve assisting in any takeover defence should a bid for the company or any of its units emerge.
Credit Suisse remains a key adviser to AMP as well.
Goldman’s involvement at AMP leaves the position of longstanding investment banking adviser UBS unclear.
AMP chief executive Francesco De Ferrari formerly ran a private banking division at Credit Suisse before joining the wealth group in late 2018.
AMP’s well-documented challenges over the past two months have put the under-pressure wealth group on the radar of several suitors, some of whom are waiting for the dust to settle or further potential share price declines before deciding whether to pounce.
AMP lost chairman David Murray and board member John Fraser on Monday, after an investor revolt against the company.
Boe Pahari, who was controversially appointed to lead AMP Capital in July, after being penalised three years ago for a sexual harassment complaint, was demoted as part of Monday’s changes.
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