Business review flagged by new AMP CEO
AMP Limited’s new chief executive, Francesco De Ferrari has started his new role effective today.
The company announced the new CEO’s start to work in a formal announcement at the same time as noting that he succeeds Mike Wilkins who had served as interim chief executive since April stating that they would work together to ensure a smooth transition.
De Ferrari will join the AMP Limited Board as an Executive Director at the first board meeting in January 2019 with Wilkins returning to his position as an independent Non-Executive Director on the AMP Board.
Commenting on his start, De Derrari described AMP Limited as being an iconic organisation but one which had faced some of its most challenging days in the past year.
“My immediate priority is to review the business model and develop our new strategy,” he said. The Royal Commission into the Banking and Financial Services Industry has provided an additional impetus for change in our business– and I’m determined we seize the opportunity.”
Recommended for you
Wealth managers have said they are experiencing difficulties in aligning their company’s in-house views with the ever-increasing needs of clients, according to MSCI.
The financial advice industry is experiencing a “champagne problem” regarding pricing, with advice firms seeing no need to cut their prices to remain competitive.
Marking a decade offering managed accounts in Australia, BlackRock has elaborated on the changes it has seen in their usage by financial advisers, with net client flows rising from 4 per cent to 25 per cent.
AZ NGA’s CEO has unpacked how its recent $345 million debt facility from Barings will accelerate its advice network’s growth ambitions, and allow its largest firms to access a greater source of funding.
