Morningstar - AMP Limited (AMP) AMPâ€™s CEO Departs Early as the Royal Commission Fiasco Worsens. Placing Stock Under Review

Report

Morningstar

David Ellis

EUR 100.00 For Business Accounts Only

AMPâ€™s CEO Departs Early as the Royal Commission Fiasco Worsens. Placing Stock Under Review

Our AMP Limited note of April 17 focused on specific and very damaging Royal Commission revelations and the likely early departure of CEO Craig Meller. Subsequently, AMP has apologised unreservedly for the misconduct and failures in regulatory disclosure in the financial advice business and CEO Meller will depart immediately. A wide range of remedial actions have or will be implemented as soon as practicable. This week has been a disaster for AMP with shareholders suffering from a 10% fall in th...

20/04/2018 14 EN

Underlying

AMP Limited

AMP is a wealth management company in Australia and New Zealand, with an international investment management business and a retail banking business in Australia. Co. provides retail customers in Australia and New Zealand with financial advice, superannuation, retirement income and investment products. Co. also provides superannuation services for businesses, administration, banking and investment services for self-managed superannuation funds, income protection, disability and life insurance, and selected banking products. As of Dec 31 2015, Co. had total assets under management of A$226.00 billion.

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AU000000AMP6 Australian Securities Exchange Australia

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

David Ellis

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AMPâ€™s CEO Departs Early as the Royal Commission Fiasco Worsens. Placing Stock Under Review

AMP Limited: 1 director

AMP receives two new qualifications and slightly improves to Neutral

Monthly LMI Update Independent Investment Research

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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