Business
Let the great AMP carve-up begin – The Australian Financial Review
The AMP board no longer has any belief that it can chart a way forward for the beleaguered wealth management giant. So it’s given its tacit blessing to a dismemberment.
This will alleviate at least some of the pressure on both the AMP directors and on the company’s chief executive, Francesco De Ferrari.
Second on AMP’s to-do list will be to dispose of or in investment banking parlance, “realise the full value of” AMP’s crown jewel, its AMP Capital business, either through a float, or by selling the business to a rival fund manager.
Canny investment bankers will quickly realise that AMP Capital is the most attractive asset in the AMP stable by a country mile.
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