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AMP Limited
AMP is an Australian financial services company that provides banking, superannuation, retirement, and wealth management services to customers in Australia and New Zealand.
AMP is a financial services company that helps Australians and New Zealanders save for retirement, manage their money, and bank. For most of its customers, the main thing AMP does is look after their superannuation — the mandatory retirement savings system in Australia, where a slice of your paycheck goes into a fund that invests it for your future. AMP runs one of those funds, and it also sells financial advice, life insurance, and wealth products to people planning for retirement or trying to grow their savings.
The company also has a bank. AMP Bank takes deposits and makes home loans, giving AMP a way to earn a spread between what it pays savers and what it charges borrowers. Alongside that sits AMP's wealth management arm, which manages money and sells investment products. So the business rests on three legs: super and retirement, banking, and wealth — and the fortunes of each are tied to how well AMP can attract and keep customers in a crowded, heavily regulated market. AMP's history is long and its reputation took a serious hit. It began in 1849 as the Australian Mutual Provident Society, a mutual life insurer owned by its policyholders, and it demutualized and listed on the ASX in 1998. That mutual heritage mattered: the 2018 Royal Commission into banking misconduct exposed serious problems at AMP, including charging customers for advice they never received and misleading the regulator. The scandal forced out senior leaders, wiped billions off its market value, and triggered years of restructuring and asset sales as AMP tried to shrink back to a simpler core.
Today the business is much smaller than it once was. It sold off its life insurance arm and spun out its asset management business, and it has been cutting costs and rebuilding trust while paying dividends to shareholders. Its competitors include the big four banks and large super funds such as AustralianSuper and Macquarie Group. The challenge is straightforward, even if fixing it isn't: win back customers who lost faith, keep costs low, and earn steady fees from managing other people's retirement money.
Saved answer · last researched 12 Nov 2026