What does the AMP carpark barometer tell us?
Outsider understands that when AMP Limited later this month announces its full-year results to the Australian Securities Exchange (ASX) it will also be delivering investors some useful information about the strategy it believes will help it continue as a wealth management company over the coming years.
It goes without saying that Outsider can make a few astute guesses about the directions that strategy will take the company, but your ageing correspondent has always valued facts over speculation and so he believes that part of that strategy will entail reducing executive numbers.
The fact underlying Outsider’s assumption is that other financial services executives working around AMP’s Sydney’s Circular Quay headquarters are reporting that a large number of car parking spots which were once filled by the BMWs, Mercedes and Audis of those on the AMP executive payroll now appear to be sitting unused.
Now, it may be the case that those executives and their European cars are enjoying a well-earned holiday break, but Outsider suspects that the reality is that those empty car parking spots will soon be available for lease by others.
Given certain Royal Commission referrals to the Australian Securities and Investments Commission, the proximity of Circular Quay to the NSW Supreme Court building might have proved handy.
AUTHOR
The Outsider
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