Original article by Jonathan Shapiro
The Australian Financial Review – Page: 16 : 13-May-19
AMP CEO Francesco De Ferrari has told customers in an open letter that the wealth manager is making significant changes as it seeks to regain their trust. AMP’s reputation took a battering as a result of deficiencies in its operations that were exposed by the Hayne royal commission, with its share price falling from $5.20 to $2.45 during 2018. The letter, which has been reprinted as an advertisement in a number of newspapers, notes that AMP has made fundamental changes to its operations and has bolstered its internal processes.
AMP LIMITED – ASX AMP, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY