The new business will be called Collimate Capital when it lists on the ASX in the second half of 2022. The wealth giant said Collimate is “a metaphor for alignment, clarity and precision, which speaks to our vision and expertise in long-term value creation for our clients”.
“This is an exciting step along our journey to establish a new brand as we continue to drive the business forward,” AMP Capital CEO Shawn Johnson said on Thursday.
“Today’s announcement is a strong symbol of our ongoing progress towards demerger.
“The new brand matches our determination to work in parallel alignment with our clients, partners and communities to develop and deliver long term, sustainable assets and returns. As a demerged entity, Collimate Capital will provide a greater level of independence, stability and accountability to further enable the delivery of superior results for all of our investors and act on growth opportunities to raise equity and deploy new capital.”
The news comes after AMP set a “clear perimeter” with the agreed sale of the global equities and fixed income business and transfer of the multi-asset group to AMP Limited.
Last November, AMP ramped up preparations for the demerger by completing its exit from its former life insurance and mature business, AMP Life.
READ MORE: AMP reports a $252m net loss
Neil Griffiths
Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.
Neil is also the host of the ifa show podcast.
