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UPDATE 2-Australia s AMP names ANZ s Alexis George as CEO, De Ferrari to retire

10 Apr 2021 / 08:59 H. (Adds background on AMP s recent performance, outgoing CEO quote) April 1 (Reuters) - Embattled wealth manager AMP Ltd named Australia and New Zealand Banking Group deputy chief Alexis George as its new group chief executive officer on Thursday, with Francesco De Ferrari set to retire from the role. The move comes just days after De Ferrari s assurances that he was in for the long haul, as AMP firmly rejected a media report he had resigned. AMP has seen its shares plunge nearly 75% since 2018 after a government inquiry into the financial sector found widespread misconduct within the company that led to an exodus of clients, even as other scandals emerged.

UPDATE 3-Australia s AMP hires ANZ s Alexis George as CEO in drive to break with troubled past

UPDATE 3-Australia s AMP hires ANZ s Alexis George as CEO in drive to break with troubled past 10 Apr 2021 / 08:59 H. (Recasts throughout with background, adds analyst comment) April 1 (Reuters) - Embattled Australian wealth manager AMP Ltd on Thursday named Australia and New Zealand Banking Group deputy chief Alexis George as its new chief executive officer, saying Francesco De Ferrari would retire from the role. The move comes just days after AMP firmly rejected a media report that De Ferrari had resigned. It was welcomed by analysts and investors as a signal of a new willingness by AMP to distance itself from a three-year period marked by corporate culture questions and scathing regulatory criticism that saw it lose three-quarters of its market value.

Nine Must Reads for the CRE Industry (April 8, 2021)

Nine Must Reads for the CRE Industry (April 8, 2021)
wealthmanagement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wealthmanagement.com Daily Mail and Mail on Sunday newspapers.

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