What we do

AMP Limited provides banking, super, retirement and advice services in Australia and New Zealand, supporting over one million customers and employing approximately 3,000 people.

AMP also operates the award-winning¹ North – a technology platform that helps financial advisers meet Australians’ super, pension and investment needs for all their life stages.

We have been helping our customers manage their investments and achieve their financial goals, no matter how small, for more than 170 years. Over the years, we have learned that every customer’s goals are unique – so we can help them make the most of what they have today to create their tomorrow.

We are committed to achieving the best outcomes for our customers and employees, which in turn will drive long-term value for our shareholders. We are focused on repositioning and simplifying AMP Limited as a customer-focused and purpose-led business.

As part of AMP’s commitment to support the financial wellbeing of Australians, the AMP Foundation, AMP’s independently funded philanthropic arm, has invested more than $110 million to help organisations and individuals bring about positive change since its inception in 1992.

¹ In 2022, North was awarded a 5 Apple platform rating, the highest possible rating from Chant West.*

From its humble beginnings in 1849 by offering life insurance as the Australian Mutual Provident Society, AMP has evolved over the past 175 years to be a publicly listed company with over 1.3 million customers and AU$133 billion in assets under management (as at FY23).

Proudly celebrating 175 years of business in 2024, AMP now helps millions of people in Australia and New Zealand invest, build wealth and retire with confidence. 

Milestones

• 1849 – The Australian Mutual Provident Society (AMP) opens for business
• 1860 – Benjamin Short joins AMP as its first agent
• 1869 – The National Mutual Life Association of Australasia opens for business
• 1899 – James Tuscon Thompson joins National Mutual as its first agent
• 1962 – The iconic AMP building in Sydney's Circular Quay is opened by Prime Minister Robert Menzies
• 1995 – National Mutual demutualises and lists on the Australian Stock Exchange
• 1998 – AMP demutualises and lists on the Australian Stock Exchange. AMP Bank opens for business
• 2000 – AMP plays a major part in the first Olympics of the new century, supporting the Sydney 2000 Olympic Games, the Paralympic Games and the Olympic Torch Relay
• 2009 – AMP and China Life Group form strategic partnership
• 2011 – AMP and AXA Asia Pacific (formerly National Mutual) merge. AMP and Mitsubishi UFJ Trust and Banking form strategic partnership
• 2017 – AMP Capital takes a minority stake in US based real estate investment manager PCCP
• 2020 – Completed sale of AMP Life insurance business to Resolution Life
• 2022 – Announced sale of global asset management business, AMP Capital, to focus on AMP’s core businesses in banking and wealth management.
• 2024 – AMP celebrates 175 years of helping people create their tomorrow

AMP Limited provides banking, super, retirement and advice services in Australia and New Zealand, supporting over one million customers and employing approximately 3,000 people.

It comprises:

Platforms

AMP’s Platforms business is a leading provider of superannuation, retirement and investment solutions, enabling advisers and their clients to build a personalised investment portfolio on AMP’s flagship North platform.

Master Trust

AMP’s Master Trust, SignatureSuper, is one of the largest retail Master Trusts in Australia, providing superannuation and pension solutions to individuals and through workplace super.

Advice

Advice provides professional services to a network of aligned and Independent Financial Advisers. These advisers provide financial advice and wealth solutions to their clients, including retirement planning, investments and financing. In addition to supporting this network of advisers, the Advice business partners with a number of aligned advice practices via equity ownership to support their growth.

AMP Bank

AMP Bank provides customers with home loans, deposit and transaction accounts in Australia. In 2022, AMP Bank helped more than 185,000 customers with their banking needs and provided over 9,400 new home loans.

New Zealand Wealth Management

New Zealand Wealth Management encompasses wealth management, financial advice and distribution businesses in New Zealand. It provides clients with a variety of wealth management solutions including KiwiSaver, corporate superannuation, retail investments, a wrap investment management platform and general insurance.

We have a clear strategy to enable AMP to deliver on its purpose: Helping people create their tomorrow. 

The strategy focuses on three key themes: 

Drive business line profitability and positive customer experience

• Bank: Address NIM compression, reduce costs and improve ROC
• Platforms: Invest in adviser sales and service; embed market leading retirement solutions
• Advice: Achieve breakeven target; build on strong practice relationships
• Master Trust: Refine retirement solutions, drive sustainable performance
• New Zealand: Maintain current performance and continue to diversify revenue 

Efficient capital, cost and balance sheet management

• Address corporate centre costs: Right size corporate costs; simplification and transformation program
• Maintain disciplined capital management: Strong balance sheet, focused on optimising capital. Reduce net debt as appropriate; committed to returning surplus capital to shareholders 

Create new revenue sources and lasting points of differentiation

• Digital Small Business Bank on track to begin operating in Q1 2025
• Expand on channel opportunities, including building digital advice capability
• Extend retirement product innovation, leveraging large existing customer base and breadth of capability across the wealth value chain

We’re driving change by focusing on four key enablers:

• purpose and culture
• brand, reputation, and environmental, social and governance (ESG) focus
• digital and data capability
• respecting risk.

Our purpose

Our purpose – helping people create their tomorrow – guides our actions and decision-making across AMP. 

• For our customers this means giving them the confidence to take control of their finances and achieve their goals.
• For our partners this means working together to meet the needs of customers.
• For our shareholders this means delivering sustainable financial performance and returns.
• For our employees this creates meaningful opportunities to contribute and deliver positive outcomes.
• For our communities this means improving financial equality through our community partners, grants programs and volunteering.
• For all our stakeholders it is about delivering value and impact and reporting meaningfully on our progress.

Our values

Our purpose is underpinned by five values:

• Put customers first is about considering customers in all our decisions and making it as simple as possible for them to take control and achieve their goals.  
• Own it is about holding ourselves and each other accountable, honouring our commitments and delivering results. 
• Be brave is about having the courage to speak up and try new ways of doing things to adapt, learn and deliver.
• Play as one team is about breaking down silos and playing to the strengths of our diverse team.   
• Do the right thing is about being respectful and delivering on our promises.