As the new CEO of AMP, I’m proud to be leading such an iconic Australian company at such an important time.
AMP helps Australians achieve their life and financial goals, and has been doing so for 169 years. This is good work - for individuals and for the community – and I do believe it’s something to be proud of.
But I’m also keenly aware that 2018 has been among the most difficult years in AMP’s history. We’ve let you down and perhaps that’s led to you questioning your relationship with AMP. I would like to thank you for your patience and continued support.
I commit myself and our team to doing better for our customers and our community.
Together we will change AMP for the better.
Our success in doing this will not be judged by me. It will be judged by you – our customers.
Under Mike Wilkins, who has been Acting CEO for much of 2018, a series of decisive steps has already been taken, including:
- An accelerated program to compensate advice customers who did not receive the service they paid for, or who received inappropriate financial advice
- Reduced fees on our MySuper products, delivering improved value to more than 700,000 customers
- A new Code of Conduct to set out what’s expected of our employees, new standards to guide our people leaders, and a new whistle blower policy including a confidential external service
- And significant investments in processes, compliance and the way we run our business, to put these issues behind us.
There’s clearly still more to do. As I develop plans to turn around AMP, I’m interested in your views. If you would like to provide your thoughts or feedback, I can be contacted at AMPCEO_feedback@amp.com.au
I will keep you informed as we re-build AMP into a company you can once again be proud of.
Francesco De Ferrari