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AMP's Credit Suisse old boys pursue private bank model

Aleks Vickovich
Aleks VickovichWealth editor

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AMP's shares hit a record low on Thursday afternoon after a major shake-up of its banking and wealth arms failed to arrest the embattled wealth company's downward spiral.

As part of chief executive Francesco De Ferrari's transformation strategy, AMP announced it will combine its wealth management and banking units under the banner of AMP Australia and the leadership of Alex Wade.

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Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com

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