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AMP Limited (ASX:AMP) had come forward and made an announcement related to the changes with respect to the leadership team with the help of the press release. As per the release dated February 7, 2019, with regards to Australian wealth management, Mr. Alex Wade would be leading the expanded portfolio bringing together the AMPâs advice, wealth management, product as well as customer solutions teams. He would be redefining the wealth management model of AMP to focus towards the strengthening of the client outcomes as well as restoring momentum amid new regulatory environment.
As per the release issued by AMP Limited, with respect to Australia and New Zealand wealth protection and mature (or AMP Life), Ms. Megan Beer would be leading the AMP Life through separation as well as transfer to the Resolution Life which is anticipated in the second half of 2019. On completion, Ms. Megan Beer would be joining the Resolution as the CEO (or Chief Executive Officer) AMP Life and the Resolutionâs Australasian regionâs Head.Â
With respect to New Zealand wealth management, Mr. Blair Vernon would be leading the AMPâs New Zealand advice and wealth operations. The release also threw light on Mr. Craig Rymanâs expanded role of Chief Operating Officer. It stated that Mr. Craig Ryman would be responsible for the efficiency as well as improving the capability of AMP.
As the market players are aware, the much-awaited final report of The Royal Commission has been released. The market trackers have a view that this report would be very crucial for the big four banks of Australia. However, AMP Limited had recently issued a press release which contained information related to the final report of The Royal Commission. As per the release, the top management of AMP Limited had stated that the financial services sector happens to be an essential pillar of the Australian economy. The release also stated that the final report would be a turning point for the industry. The release stated that the company would be reviewing the recommendations of The Royal Commissionâs final report as well as they would be providing updates.
We would be looking at how AMP Limitedâs stock has performed today and how this companyâs stock has been performing in the recent past. Today (i.e. February 7, 2019), the stock of AMP Limited ended the session in green as the stock price witnessed the rise of A$0.060 per share or 2.49% to close at A$2.470 per share. The market capitalization of AMP Limited stood at $7.08 billion. As per Australian Securities Exchange or ASX, the companyâs stock price is trading towards the lower level. According to the same source, AMP Limitedâs annual dividend yield happens to be 10.17%. Talking about the past performance, the companyâs stock has delivered the return of -30.14% in the span of previous 6 months while in the time period of previous 3 months, the stock had given the return of -11.07%.
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