When banking veteran David Murray was appointed AMP chairman in 2018, two of his top tasks were to restore trust in the institution and turn around its culture as it battled damaging fallout from the royal commission.at the time that he was taking the reins in a "crisis situation," and it would be a "big job."
Former Treasurer Peter Costello, who appointed Mr Murray as Future Fund chairman in 2006, on Monday praised Mr Murray's career as "enormously successful" but said he had done the right thing in stepping down as AMP chairman. Mr Murray got his start in finance when he joined CBA's Lindfield branch in Sydney's north shore, and remained employed at the bank for 39 years, including as CEO for 13 years until 2005.
Former competition tsar Graeme Samuel, co-author of a scathing 2018 review into CBA's culture, said on Monday it did not appear there had been sufficient change at AMP.
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