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‘I have no doubts’: AMP boss confident despite $2.3 billion loss

Despite a first-half loss of $2.3 billion the AMP CEO is confident in rebuilding the company’s reputation.

The company’s share price has plunged almost 70 per cent since the royal commission uncovered historic misconduct.

AMP has asked its shareholders for $650 million to be able to invest in new growth opportunities.

But, CEO Francesco de Ferrari tells Ross Greenwood he sees a future for the company.

“This financial institution has driven more change than any other financial institution in Australia, that’s why I’m hopeful.

“We are going to become the leading wealth manager in this country and I have no doubts about that.

“All the large players are exiting the field of advice at the moment where Australians need advice the most.”

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Image: Getty/ Bloomberg