AMP abandons sale of NZ wealth management unit

Fri, 08 May 2020

AMP has abandoned plans to sell its New Zealand wealth management business following disruption caused by the covid–19 pandemic to economic and financial markets.The company said it held discussions with a number of interested parties regarding the divestment, but the offers received did not meet its expectations. New Zealand wealth management will be retained and will focus on growing the business in existing markets, the company said in a statement to the NZX.In February, the Australia-based financial services company said the...

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