Status #91074

2018 Banking Royal Commission - Australia - 1st Casualty AMP [...]


Waratah West, New South Wales
via The Full Circle Project
2018 Banking Royal Commission - Australia - 1st Casualty AMP CEO

This is Craig Meller, the CEO of AMP, one of the biggest financial services providers in the World, Meller is Australias Head but only since 2014, it is now 2018. Which means he has been the CEO for only 3 years.




In 2017 alone, that’s only 2 years into the job, Meller received from his Employer, AMP, these financial payments:-



Fixed Salary                              = 1.9 million dollars

Cash Short Term Incentive          = 1.28 million dollars

Long Term Incentive                       = 4.27 million dollars

TOTAL REMUNERATION 2017     = 8.32 million dollars

On top of that, Meller’s shareholdings in AMP Limited as at 31 December 2017 were

858,159 shares.

As at December 31, 2017 AMP Limited shares were valued at $5.21, which means, Meller’s share holdings as at the same period have a cash out value of :-

$4,471,000 ($4.4 million dollars)

So folks, as at 31st December 2017, Mr Meller for all his hard work, diligence, honest business dealings, loyalty and devotion to making AMP a shitload of profit and returns for their investors, dear old Mr Meller was worth more than

$12,000,000 to AMP, that’s how much pecuniary worth Meller was to AMP. What a legend CEO he must be eh, what a champion of champions for the financial services industry, to the people of Australia, and to the dedicated men and women working for AMP. I am sure they salute you Mr Meller.

In 2017, AMP Limited, the company, raked in an incredible $1.04 billion dollars in profit

Now, fast forward to April 2018.

The Banking Royal Commission preliminary hearings which are under way as we speak, has just learnt (surprise, surprise), that AMP charged fake financial advice fees to non-existent “orphaned” customers, knew about it, covered it and misled ASIC and misinformed ASIC about doing it for 10 years, that’s right, 10 fucking years. The orphaned customer accounts were inherited by AMP through acquisitions and mergers so to speak. In other words, AMP charged these fees for no –service actually provided.

And folks, this is JUST THE TIP OF THE ICEBERG. There will be more to come.

Now based on Meller’s 2017 Remuneration package and incentives, and based on AMP’s Annual 2017 profit, is it any surprise at all that in April 2018, Meller announced his resignation from AMP as CEO, as reported by the ABC here http://abc.net.au/news/…

Is someone feeling a tad guilty wilty Mr Meller??????????????????????hmmmmmmmm.

Lets all look forward to more corruption, scandal, and dirt being uncovered by banks and other financial providers over the coming months, and lets really look forward to more behemoth corporate CEO’s in the financial sector to face the chopping block, without their huge salaries and financial incentives to fall back on eh.

Cheers

Craig Peter DG

ASHJ

https://ashj69a.wordpress.com/…
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