I see the new CFO has not addressed the below the line shenanigans that AMP is notorious for:
- client remediation costs. They are remediating customers every month and no doubt new issues arise regularly. This is a normal part of any business, not below the line
- transformation cost out. All decent business are transforming all the time. Again a normal part of business and an out is not be below the line.
- other items includes exited mandates; seems like a dodgy way to reduce the prior year comparative where AMP has lost business. Exited mandates are very different from where they have sold a business such as superconcepts and AMP Capital
I see the new CFO has not addressed the below the line...
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