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Go to - FDNC NEWS FORUMS > Australian Business & Financial News > AMP boss Craig Meller quits after scandals

Posted by: Flin Apr 20 2018, 08:56 AM
AMP boss Craig Meller quits after scandals revealed at banking royal commission
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MP's chief executive officer Craig Meller has quit his job with immediate effect after a series of scandals were revealed at the banking royal commission.

The resignation was accompanied by an unreserved apology from AMP to its customers.

The royal commission heard AMP lied to the corporate watchdog ASIC for almost a decade to cover its practice of charging customers fees for advice that was never delivered.

Mike Wilkins, a non-executive director of the company and former CEO at insurer IAG, has been appointed as acting CEO.

Mr Meller has become the first senior executive to lose his job as a result of the banking royal commission.

His fall was rapid, given AMP only started giving evidence on Monday.

I once considered banking as a career but I soon lost interest.

Posted by: Alicia Apr 20 2018, 09:04 AM
Haven’t we all. Lost interest that is.

Posted by: charka Apr 20 2018, 09:28 AM
I wish we had that option Bet nothing is done

Posted by: Bill Apr 20 2018, 10:14 AM
Latest talk on ABC News24 is that the entire board of AMP will go as they interfered with the 'independent' reports to ASIC on several occasions. Now that's a gaolable offence.

Posted by: Alicia Apr 20 2018, 11:23 AM
It certainly should end with those responsible in prison, but will it?

Posted by: scepo Apr 20 2018, 04:11 PM
I certainly hope so Alicia.

Posted by: charka Apr 20 2018, 04:15 PM
Nothing will happen huff puff

Posted by: Jonno Apr 20 2018, 06:40 PM
The echos of millions of voices resound from the walls of every monetary institution from now and the past, the controllers of which lied, cheated, stole, made personal fortunes in false names in tax & investigation-free havens in 'off-shore money under the mattress' addresses.

Sir Echo Repeats What People Said, "They are a great company, the investment managers at AMP are SO friendly and helpful and treat us like family members, with great advice and the best places to invest our money and make it grow."
All the TV and other media advertising will state the same trust and honesty ....!!!!!!!!! ...!!!

Superannuants, Self-Funded Retirees and other Government Guaranteed Super Funds Are Rock-Solid Investments.
Dream On Folks ...!!!!!

Too many people fall for the con-man tricks which have been around since blokes in caves sharpened a stick and sold it as a fish-catcher for the cost of four fish, which he exchanged each fish for vegetables and berries from his neighbours.

Human beings are not at the top of the creature intelligence Tree Of Life, they have not yet become intelligent enough to rise up and grab the lowest branch.

The proof is an outstanding vision, witnessed daily by the apathy and stupidity of creatures of the gender 'humans'....for want of a more appropriate description..

Posted by: Flin Apr 20 2018, 06:53 PM
Translation of Jonno's post. "The banks rely on the fact that there is one born every Minute."

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