Green shoots in overhaul at AMP
AMP under new boss Alexis George is undertaking a ‘massive simplification’ of its wealth division while it navigates Covid-19 lockdowns.
AMP Limited
AMP resets ‘broken’ fee model
AMP scraps the longstanding buyer of last resort option for financial advice practices, as it introduces sweeping changes.
AMP adds ex-Bendigo boss Hirst to board
Naming former Bendigo and Adelaide Bank CEO as director comes as AMP seeks to boost board financial services experience.
Embattled AMP slumps as outflows weigh
AMP shares have tumbled more than 3 per cent after it posted net outflows of $1.5bn in the March quarter.
Ares still on hunt for $59bn AMP buy
Ares Management is pushing ahead with a cash offer for all of AMP’s $59bn private markets unit, but differences of opinion on price and deal structure remain.
$2.2m sting for exiting AMP chief
Embattled AMP has caved to pressure and axed a proposal to grant outgoing boss Francesco De Ferrari $2.2m in incentives.
New AMP chief ready for the risks
Incoming AMP chief executive Alexis George knows that to make it to the top you have to take risks.
Get on with it: AMP, Ares talks frustrate investors
AMP and suitor Ares Management are coming under intense investor pressure to draw a line under protracted deal talks.
CEO stays as AMP sell-off fuels turmoil
Under-fire AMP flags a leadership and strategy review, but again declares CEO Francesco De Ferrari has not resigned.
AMP’s cycle of destruction continues
With its CEO seemingly under a cloud, AMP’s reputation as an executive graveyard looks set to continue.
Ord Minnett acquires EL & C Baillieu
Stockbroking firm Ord Minnett acquires EL & C Baillieu, in a move that marks further consolidation of the nation’s wealth management market.
Public sector staff bonanzas
Some of the bonuses make luxury watches seem modest.
ASX flat on US vote jitters, Crown dealt blow
Stocks finished flat amid US election jitters, while Crown casino licence hopes took a hit.
‘I am more optimistic than you are’: Lowe
Stocks surged more than 2pc after the RBA confirmed a widely expected rate cut and quantitative easing; Governor Philip Lowe said negative rates were ‘extraordinary unlikely’.
ASX swings up, Westpac disappoints
Stocks turned positive amid choppy trade, oil plunged and Westpac’s profit missed expectations, though AMP jumped.
Ares offers $1.85 a share for AMP
AMP shares jumped after it said Ares’ offer values the financial services giant at $6.36bn, a 20pc premium on Friday’s closing price.
AMP reveals price of US takeover bid
AMP has revealed the price of its takeover offer by a US firm, and while it’s substantially more than expected, observers have other ideas.
Wrecker’s yard a fitting end for AMP
AMP can no longer oversee its own break-up or rebuilding, and the cost to shareholders of that failure is going to be very high.
Autohome in the driver’s seat
Merger and acquisition activity is also keeping investment bankers busy at the smaller end of the market.
AMP stalked by Ares for months
AMP’s downtrodden shareholders are hopeful a binding $6bn-plus bid eventuates for the 171-year-old wealth group, as US suitor Ares Management ramps up due diligence.
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