Business
AMP Capital ratings hit by ‘corporate instability’ – afr.com
Ratings agency Zenith Investment Partners has put AMP Capital “under review” due to concerns about ‘corporate instability’, governance and its lack of strategic direction.
The internal upheaval also sparked the resignation of AMP Australia boss Alex Wade over separate matters that included allegations of improper messages to female colleagues.
New chairman Debra Hazelton this week sidelined AMP chief executive Francesco De Ferrari’s strategy by announcing the business was open for offers, following a sustained increase in unsolicited interest from suitors.
A “portfolio review” over the next few weeks, carried out by Credit Suisse, Goldman Sachs and King & Wo…
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