Shares boost for AMP CEO De Ferrari
AMP chief executive, Francesco de Ferrari, has increased his performance rights by over six million, according to an announcement on the Australian Securities Exchange (ASX).
De Ferrari, who became chief executive in December 2018 and had 20 years of experience in wealth management, previously held 1.6 million in performance rights.
According to an ASX release today, the CEO’s performance rights were increased this week from 1,656,976 to 8,024,378 – an addition of 6,367,402.
AMP said the performance rights were acquired without a cash payment by De Ferrari as they were a part of his remuneration.
The number of restricted shares, options, share rights and shares held by De Ferrari remained the same.
At the time of his appointment last December, it was stated he would receive a base salary of $2.2 million including superannuation. He was entitled to a maximum short-term incentive of 120% of his salary and a maximum long-term incentive of 159% of his salary for 2019, which brought the maximum total remuneration available for 2019 to $8.3 million.
Recommended for you
Adviser Ratings has explored whether there is a financial benefit to advice firms seeking to have a specialised client base in terms of client assets and fees charged.
Research by two recruiters has revealed whether salary or team culture is more important to financial services professionals when considering a new position.
Two financial advice businesses are to merge in a bid to create a multidisciplinary professional services firm as part of AZ NGA’s “super firm” strategy.
While the Financial Services and Credit Panel can take action on individual advisers’ misconduct, a compliance professional unpacks why the panel does not always subject licensees to further action.