AMP’s top executives on ‘retention payments’
AMP Limited has revealed it is paying some of its most senior executives retention payments to ensure they remain aboard the big financial group.
The retention payments have been revealed by AMP chair, Debra Hazelton ahead of the company’s annual general meeting and come despite AMP having earlier notified shareholders that the chief executive and key management personnel would not be receiving short-term incentives.
It said this was to align remuneration with shareholder outcomes.
However, Hazelton said that “in recognition of the potential risk of losing key executives during the portfolio review process, the board has approved some limited retention payments to be paid later in 2021”.
Recommended for you
With new entrant numbers up 90 for the calendar YTD, Wealth Data has revealed the top licensee owners that have onboarded new advisers.
Sequoia Financial Group’s business simplification program has led to a strong profit growth for the first half of FY25, saying it is “out of the congestion and onto the freeway”.
The Federal Court has frozen the assets of two individuals, Ferras Merhi and Osama Saad, for their connections to the troubled Shield Master Fund.
TAL has appointed two experienced financial services professionals to its board including a new chair for the business to replace Mark Joiner.
