Deutsche Bank today announced its appointment as depositary bank for the Level I American Depositary Receipt (ADR) program of Australia-based AMP Limited (AMP).
AMP is a leading independent wealth management company in Australia and New Zealand. Established in 1849 AMP provides financial advice, superannuation and investment products and services, income protection, disability and life insurance, selected retail banking products, and investments in shares, fixed interest, property, infrastructure, multi-manager and multi-asset funds. AMP has the largest financial advice network in Australia and New Zealand with 4,276 aligned and employed financial advisers and planners. AMP also has extensive relationships with external financial advisers. With 5,829 employees, AMP manages AU$172 billion in assets for over five million customers in Australia and New Zealand. In March 2011, AMP merged with the Australian and New Zealand businesses of AXA Asia Pacific Holdings. AMP’s shares are listed on the Australian Stock Exchange and the New Zealand Stock Exchange.*
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank said, “We are delighted to be appointed as the depositary bank for AMP’s ADR program. Deutsche Bank's range of customized ADR-related services will be utilized to assist Australia’s AMP in enhancing its ADR program visibility and broadening its investor base."
*Source: AMP (February 2013)