With AMP’s reputation shot to pieces by the Royal Commission, it has sought to restore its representation by capturing former senior government officials.
After recently capturing the chair of the Financial System Inquiry, David Murray, AMP has now has captured recently departed Treasury Secretary, John Fraser:
Former federal Treasury secretary John Fraser will join the board of troubled financial services giant AMP.
Mr Fraser will take up a board seat at AMP in September – about a month on from his resignation as Treasury head in July.
AMP chairman David Murray – the former Future Fund chairman who took over from ousted chairman Catherine Brenner – said the appointment “demonstrates that board renewal is well underway”.
Regulatory capture is obviously alive and well in Australia.
