A major bank has dropped plans to divest its New Zealand wealth management business following the COVID-19 economic meltdown.
AMP has confirmed it will be retaining its New Zealand wealth business and will now focus on plans to develop and grow the business in its existing markets.
The group reported it held discussions with a number of interested parties regarding the divestment, but the offers it received did not meet its expectations.
AMP has promised a further update on the Kiwi wealth management segment at its first half results in August.
After Labor has secured a somewhat surprising landslide win in the federal election, the FSC CEO said this will now be a ...
Platform executives are pushing for more advice revenue to be invested in advice tech capabilities, labelling the ...
The licensee said around 80 per cent of eligible Brighter Super members have confirmed they will transition their advice ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin