Oh ye of little faith @HAC30! You neglected to include the more...

Oh ye of little faith @HAC30! You neglected to include the more positive (though still cautionary) part of that AFR article:

Inspired appointment

It is why the appointment of former CBA chief executive David Murray as AMP's new chairman was inspired.
Murray is outspoken and has a lot of clout in Canberra and believes in vertical integration.

When he was the boss of CBA he transformed the bank into a vertically integrated financial services giant with the acquisition of Colonial. He will be backed by players such as Westpac, which has put a stake in the ground to remain vertically integrated.

The community's confidence in the vertically integrated model has been rocked to the core. It is inherently conflicted and there have been far too many cases were those conflicts have caused financial detriment to consumers.

Murray will have a hard job convincing everyone that the model works and shouldn't be touched. He has no choice, it is the lifeblood of AMP and it is hard to imagine how AMP can work without it.