Business
AMP sale faces uphill battle on separation – The Australian Financial Review
AMP suitors will face a tough time untangling the complex and interconnected parts of the wealth manager’s sprawling business, plus the enormous costs of separation.
Mr Lim said while the major banks would unlikely be able to purchase AMP Bank because of competition regulations, Macquarie Group, Bank of Queensland or ING would make a suitable home for the fast-growing lender.
“It will be useful to Macquarie or Bank of Queensland, which could bulk it up with their Virgin Money business,” Mr Lim said.
Macquarie and Bank of Queensland declined to comment, but sources said the assets would remain attractive for the right price. Bank of Queensland recently hire…
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