K&W Mallesons gets AMP governance gig amid royal commission scandal

By Aleks Vickovich|19 April 2018
AMP

Financial institution AMP has announced it will appoint King & Wood Mallesons to assist with a review of governance issues uncovered by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

Earlier this week AMP was castigated at the royal commission for admitting to at least 20 false and misleading statements made to the Australian Securities and Investment Commission over a seven-year period.

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Today the listed financial services giant has announced it will establish a committee to review the admitted misconduct, with King & Wood Mallesons appointed to advise the committee as external counsel.

The appointment follows the royal commission questioning the independence of a review previously conducted for AMP by rival firm Clayton Utz.

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AMP has also announced that its group general counsel Brian Salter will be taking a leave of absence while the review is underway, with AMP lawyer David Cullen taking the reins. 

During royal commission proceedings, Mr Salter was named as a key figure in the drafting of misleading statements. 

AMP has announced that CEO Craig Meller will resign effective immediately in wake of the royal commission scandal. 

K&W Mallesons gets AMP governance gig amid royal commission scandal
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