Andrew Mohl, Managing Director and CEO of AMP Limited, spoke frankly to Narelle Hooper, the new Editor of the Australian Financial Review’s BOSS Magazine about the crisis faced by AMP in the mid-1990s and about his role in turning this iconic company around.
Andrew Mohl was the Guest Speaker in Meet the CEO, a regular series of talks to an audience of alumni, staff and students at the Australian School of Business. Mr Mohl gave a fascinating account of the time when this major financial institution faced a very difficult period.
An economist by training, Andrew’s background included time as Deputy Head of Research at the Reserve Bank of Australia, as Chief Manager of ANZ Retail Banking and as Managing Director of ANZ Funds Management. He joined AMP in 1996 as the General Manager of Retail Distribution, which gave him a valuable insight into the values of driving the business at a grassroots level, something which stood him in good stead in the dark days that followed.
As AMP share prices plummeted Andrew spoke about “his inner peace” that enabled him and his team to become battle-hardened but not wearied. He ensured that the day-to-day business of AMP suffered as little as possible, while he worked on re-organising the company both in Australia and overseas and fighting off corporate raiders. Andrew stressed the need for strong transparent communications with both shareholders and the media.
Mr Mohl spoke with pride about AMP. He emphasised its value as a major Australian financial institution to the Australian business community, including its clients and its shareholders.
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