AMP’s comedy of errors Lachlan Maddock
Francesco De Ferrari is gone – but AMP’s problems remain.
Like the annual human sacrifices pagan cultures made in service of good crops and fine weather, AMP has a new chief executive. And like everybody before her, Alexis George is eminently qualified for the job. Ms George has 25 years’ experience in financial services and led ANZ’s $4 billion wealth divestment program, including the separation and sale of its life and superannuation businesses. If anybody can do it, it’s her.
But this is a hospital pass. The biggest challenges from De Ferrari’s tenure will remain long after he’s left 33 Alfred Street.
New AMP boss has broken the glass ceiling, but now faces the glass cliff
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De Ferrari gave AMP his best shot
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AMP’s board, led by Debra Hazelton and chief executive Francesco De Ferrari, appears to be rapidly losing control of the process of selling down the company’s stake in its earnings engine room, AMP Capital.
AMP’s board, led by Debra Hazelton and chief executive Francesco De Ferrari, appears to be rapidly losing control of the process of selling down the company’s stake in its earnings engine room, AMP Capital.