AMP Limited ASX: A Comprehensive Stock Report

AMP Limited is a well-established financial services company listed on the ASX. It was founded in 1849 and has a long history of providing financial services to Australians.

AMP Limited has a significant presence in the Australian financial services market, with a diverse range of products and services including insurance, superannuation, and investments.

The company has undergone significant changes in recent years, including the sale of its wealth management business in 2016.

AMP Limited has been involved in several significant events over the years. One notable event was the completion of a $1.1 billion capital return program on October 10, 2023.

AMP Limited has also been involved in various buy-back notifications. These notifications started on September 27, 2023, and continued until October 3, 2023, with updates provided daily.

Here is a list of some of the key events involving AMP Limited:

AMP Limited's most recent activity was a change in substantial shareholding for FCL on December 20, 2023.

In 2010, AMP announced a bid to merge its business with AXA Asia Pacific Holdings. This joint proposal involved AXA acquiring AMP's Asian business, while AMP acquired AXA's Australian and New Zealand business.

The merged group began operating together on March 31, 2011. AXA had previously gained majority ownership of National Mutual in 1999 and renamed the company as AXA Asia Pacific.

The merged group included the former National Mutual business, which was established in 1869 and demutualised in 1996. AXA had a significant presence in the Australian and New Zealand market, which was eventually phased out by 2013.

AMP delisted from the NZX in February 2022, consolidating its listing on the Australian Securities Exchange.

In 2018, a Royal Commission revealed that AMP charged clients for financial advice that wasn't provided, and misled the Australian Securities & Investments Commission on numerous occasions.

AMP's CEO, Craig Meller, resigned on April 20, 2018, after the scandal broke, and over $1 billion was stripped from AMP shares as a result.

Catherine Brenner resigned as chairperson on April 30, 2018, with Mike Wilkins taking over as acting CEO and chairperson.

Directors Vanessa Wallace and Holly Kramer announced they wouldn't be seeking re-election in response to an impending protest vote from shareholders.

AMP admitted to a second overcharging scandal in November 2018.

CEO Francesco De Ferrari launched a $1 billion transformation plan in 2019 to improve AMP's public image after the royal commission.

AMP's timeline is a story of change and growth. In 2018, Craig Meller resigned as CEO after the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry revealed AMP's wrongdoings. Over $1 billion was stripped from AMP shares.

On April 30, 2018, Catherine Brenner resigned as chairperson, and Mike Wilkins was appointed acting CEO and chairperson. Vanessa Wallace and Holly Kramer announced they would not be seeking re-election due to an impending protest vote by shareholders.

AMP admitted to a second overcharging scandal in November 2018. CEO Francesco De Ferrari launched a billion-dollar transformation plan in 2019 to improve public opinion.

The company has undergone significant changes in its leadership and business areas. Francesco De Ferrari was appointed as CEO in 2018, but he resigned in 2021. Alexis George, formerly of ANZ, took over as CEO in 2021.

Here's a summary of key events in AMP's timeline:

Amp Limited's primary listing is on the Australian Securities Exchange (ASX) under the ticker code AMP.

The company has a market capitalization of around $3.5 billion AUD.

Amp Limited has a long history dating back to 1849, with a presence in Australia and New Zealand for over 170 years.

The company has a diverse range of businesses, including wealth management, superannuation, and insurance.

Amp Limited's financial year runs from July 1 to June 30.

The company's head office is located in Sydney, Australia.