AMP directors are running out of time to come up with a credible,sustainable plan as the evolution of its strategic review of assets is becoming increasingly painful to watch.
Investors have accused Ares of trying to get a bargain price by allowing the latest deal to lapse amid the uncertainty over AMP’s leadership.
Embattled wealth manager AMP is under shareholder pressure to resolve its protracted joint-venture talks with Ares.
AMP shot down speculation chief executive Francesco De Ferrari would resign immediately,but left the door open for a potential leadership spill.
AMP says Francesco De Ferrari remains as chief executive despite an AFR report claiming he was set to resign by the end of Thursday.
If his future is in doubt,Francesco De Ferrari seems to have fallen victim to an egregious case of bait and switch.
Dexus’ merger proposal with a wholesale property fund managed by AMP Capital will set the clock ticking on an alternative deal being negotiated by AMP.
Influential proxy adviser Vas Kolesnikoff says the bigger issue for shareholders in AMP’s remuneration report is the use of retention payments totalling almost $4 million.
The head of AMP’s real estate unit says the wealth manager’s proposed $2.25 billion tie-up with Ares Management should benefit her division.
AMP has entered into a non-binding agreement to spin off its private markets business AMP Capital to US investment firm Ares in a $2.25 billion joint-venture deal.
Buy and hold AMP shareholders are weighing up whether the worst is over for the troubled wealth management giant.