AMP and the case for timely advice

Wed, 17 Feb 2021

AMP disappointed everyone and surprised no-one last week with news its white-hatted saviour was not coming to the rescue after all.A stranger in these parts, the US investment firm Ares Management rode up last October toting a A$6.3 billion lifeline that could have pulled the in-distress AMP out of the quicksand.Unfortunately, it was only a non-binding lifeline, which Ares has since retracted, leaving the ASX-listed financial services firm still stuck in the mud.Bloomberg reported, Ares “abandoned its offer for the whole company partly be...

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