Business
De Ferrari left with AMP’s ‘rump’ – The Australian Financial Review
AMP chief executive says calling it the ‘rump’ undersells the company’s unloved superannuation, wealth and banking divisions, and pledges heavy lifting to overhaul…
It is also trying to simplify its lacklustre superannuation business and cut fees, figure out how financial advice can make money in the 21st century, and help its banking arm compete with rivals Bank of Queensland and Bendigo Bank, which are bulking up.
Mr De Ferrari said AMP Bank would re-engage with the market this year after pulling back sharply from lending during the COVID-19 crash.
When COVID hit, we were very prudent with the management of our bank. We slowed mortgage growth and ramped up…
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