AMP still open for offers: Wallis
AMP is still considering future alliances with banks, acting chairman Stan Wallis has told yes-terday’s Business Sunday programe.
AMP is still considering future alliances with banks, acting chairman Stan Wallis has told yes-terday’s Business Sunday programe.
Wallis says AMP has a platform for international growth and expansion but says AMP is an at-tractive proposition to the banks given its "tremendous" position in the Australian marketplace and overseas.
Asked if he ruled out an alliance with a bank, Wallis said: "We'll talk to any player in the finan-cial system where there's some potential synergy or value. That's going on all the time, quite frankly."
Despite the offers from other groups, he says AMP believes it can go it alone.
"You're dealing in the AMP now with a funds manager with assets of nearly $300 billion. I mean, it's an enormous achievement for an Australian company," Wallis said.
Recommended for you
The profession is up by almost 200 advisers for the new financial year, with August continuing the consistent weekly positive gains.
WT Financial has announced its second “Hubco” with a combined valuation of $7.8 million, while its first one has successfully incorporated and is now making its own acquisitions.
The Australian Wealth Advisors Group has entered into a joint venture with a Melbourne financial services firm to launch a wealth manager.
Remediation and litigation costs have led AMP to announce a reduced statutory net profit after tax of $98 million for the first half of 2025.
