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Australia s AMP hires ANZ s Alexis George as CEO in drive to break with troubled past
By Reuters Staff
2 Min Read
FILE PHOTO: The logo of AMP Ltd, Australia s biggest retail wealth manager, adorns their head office located in central Sydney, Australia, May 5, 2017. REUTERS/David Gray
(Reuters) - Embattled Australian wealth manager AMP Ltd on Thursday named Australia and New Zealand Banking Group deputy chief Alexis George as its new chief executive officer, saying Francesco De Ferrari would retire from the role.
The move comes just days after AMP firmly rejected a media report that De Ferrari had resigned. It was welcomed by analysts and investors as a signal of a new willingness by AMP to distance itself from a three-year period marked by corporate culture questions and scathing regulatory criticism that saw it lose three-quarters of its market value.
Embattled Australian wealth manager AMP Ltd on Thursday named Australia and New Zealand Banking Group deputy chief Alexis George as its new chief executive officer, saying Francesco De Ferrari would retire from the role.
Australia s AMP names ANZ s Alexis George as CEO, De Ferrari to retire yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
(Adds additional details, Deputy Governor’s statement)
March 31 (Reuters) - The Reserve Bank of New Zealand said on Wednesday it was easing dividend restrictions placed on lenders at the height of the COVID-19 pandemic following a stronger-than-expected rebound in the economy.
The changes allow banks to pay up to half their earnings in dividends, with the cap to remain in place until July 1, 2022, given persisting uncertainties, the central bank said in a statement.
It, however, cautioned the banks to be prudent in their approach and consider the need to meet higher capital requirements resulting from the RBNZ’s capital review.