AMP

AMP will reduce the headcount across its superannuation and North platform businesses and press ahead with changes to its redundancy policies even as the Finance Sector Union warns that “staff deserve better”.

AMP’s best deserve more than its worst, but the unilateral reduction of their redundancy benefits means that’s what they’ve gotten. There’s still time for its executive committee to make good.

AMP has cut redundancy pay maximums and notice periods in a move that has left long-term employees dismayed after they stuck with the company through the royal commission and its aftermath.

At a recent industry discussion of the Financial Stability Council’s new Retirement Income Policy Roadmap, industry leaders said putting greater emphasis on the drawdown phase of superannuation will be key to keeping accumulation balances in check and retirement savings flowing through the economy.

Following a flurry of activity where it deployed more than $3 billion of capital into real assets and private markets in Australia and overseas, TCorp has a new head for the division – with more investments to come.

Rest has flashed its sustainable and private markets credentials with a stake in AMP Capital’s schmick redevelopment of 50 Bridge Street.

AMP Capital is effectively no more, sold off to a menagerie of domestic and international managers. But the challenge of turning AMP around has barely begun. The wretched story of AMP’s attempts to spin off its asset management arm, AMP Capital, has perhaps commanded more attention than even the savaging the wealth business received during…

The Your Future, Your Super (YFYS) test is here to stay – but CIOs are still adapting to the idiosyncrasies of their new benchmarks. “The performance test gives you an additional target,” Anna Shelley, CIO of AMP, told the ASFA Conference on Wednesday (27 April). “And you can be the best archer in the world,…

Allspring Global Investments has launched an expansion into Australia and New Zealand led by new regional chief executive, Andy Sowerby. If history is a guide, the rollout of institutional funds management capabilities will be rapid. Sowerby, like Joe Sullivan, Allspring’s chairman and CEO, hails from Legg Mason, where he was the Melbourne-based regional head prior…

Carbon analytics fintech Emmi has appointed a chief operations officer as it onboards a slew of new super fund and consulting clients. Rebecca Bannan, who was previously Emmi’s head of strategy and operations, will step into the role of chief operations officer. Bannan, a chartered financial analyst, was previously investment director for strategic advisory at…