Advisers won the case against a well-armed opponent and can move on with more financial parity, while AMP’s shareholders and executives can put a long-overdue cap on the damage caused by this at-times acrimonious dispute.
AMP’s executive spine has done a remarkable job of arresting the company’s decline, but its refusal to accept the court’s decision that it shortchanged advisers on BOLR deals is an egregious misstep that could put its trust account with those advisers back in the red.
Hartley, who joined AMP from Sunsuper in January 2021, will help transition the AWM business to a flatter human resource model before leaving the group in late November.
The institutional provider’s AUM and profit lines stayed red in 1H22, but positive signs emerged.
