AMP & AMPP, page-4

Major shareholder Allan Gray managing director Simon Mawhinney said there was “always the view that AMP was going to be a desperate seller”, but welcomed the news This is the first time that AMP Capital can be really structured as a sustainable asset manager with an operating model that is essentially purpose-built,” Mr Mawhinney said.“And I think this is better for everyone, it’s better for clients, it’s better for employees, I think it’s better for shareholders in the long term.“I’m very very supportive of this.”However, Mr Mawhinney said AMP should not hold on to the 20 per cent stake of AMP Capital. “There is absolutely no need to retain any of this business.”Morningstar analyst Shaun Ler said the announcement was an opportunity to draw a line under AMP’s “operational headaches”. He welcomed the resignation of Mr Pahari and the separation of AMP Capital’s private markets business.“Private markets has been burdened by some negative connotations, such as the Boe Pahari