Former IAG chief executive Mike Wilkins, who joined AMP's board in 2016, will replace Mr Meller on an interim basis.
Chief Executive Officer Craig Meller has stepped down with immediate effect, the first scalp of Australia's inquiry into misconduct in the financial industry, which this week heard the fund manager had deliberately misled regulators over charging customers for services they didn't receive.
"I am personally devastated by the issues which have been raised publicly this week, particularly by the impact they have had on our customers, employees, planners and shareholders", Mr Meller said.
AMP shares have been in freefall since the company began giving testimony to the royal commission on Monday, wiping about $1.3 billion off its market capitalisation.
The apology came after a banking royal commission found earlier this week that AMP lied to Australia's corporate watchdog for nearly a decade to cover its widespread practice of charging customers for services they did not receive.
A board committee has been established to review the issues related to the advice business that were uncovered by the commission.
Intuitive Surgical (ISRG) Earns Daily News Impact Rating of 0.17 Macquarie Research initiated The Coca-Cola Company (NYSE:KO) on Friday, September 15 with "Neutral" rating. (NASDAQ:ISRG) rating. It is positive, as 27 investors sold LKQ shares while 166 reduced holdings. 134 funds opened positions while 632 raised stakes.
AMP confirmed it will make a submission to the Royal Commission in response to the issues raised and will include discussion of the independence of Clayton Utz's report.
Finance Minister Mathias Cormann told Sky News television on Friday that revelations about AMP from the inquiry were "very concerning" and Meller's sudden departure "is obviously one of the consequences".
The Royal Commission is a government inquiry into the Australian financial sector which seeks to restore confidence in the sector after widespread allegations of misconduct including interest-rate rigging, accusations that some institutions withheld legitimate insurance payouts, and accusations of money-laundering.
Counsel assisting the inquiry, Michael Hodge, presented emails on Wednesday suggesting Meller's name was deleted because it might "attract unnecessary attention" from the regulator.
"Boards, at the end of the day, are responsible for these organisations, and there will be a lot of focus on executives, where executives haven't been able to deliver here".
There will also be longer prison sentences for serious corporate crimes, up to 10 years in prison for the worst offences.
Jay and Kateri Schwandt announced their latest son , who is not yet named, was born April 18, bringing their streak of boys to 14. Jay said earlier this year that he would have loved to have a girl, but didn't think would be in the cards.
But US officials familiar with US military planning said Russian Federation and Iran were never seriously considered as targets. In Washington , Pentagon spokeswoman Heather Babb said: "There are no United States or coalition operations in that area".
That's why it must truly stick in Trudeau's "Sunny ways" craw to publicly come out in favor of the Trans Mountain pipeline. Combined, the two would employ up to 700 people in their respective spreads over two years, according to Surerus.
The meeting came on the same day that Iraq said its Air Force carried out a raid on IS positions in Syria . Cells believed to be linked to Daesh have since mounted scattered attacks in different parts of Iraq.
Two different mail bombs have been later intercepted and defused, together with one at an NAACP workplace in Jacksonville, Fla. Authorities stated that those bombs have been created to produce investigators think the crimes have been racially inspired.
Dangerous Woman , Grande's third album, spawned hits like the title track, "Side to Side", and "Into You". For as long as we can remember, Grande has worn her hair in the same iconic, slicked-back high ponytail.
The defense also says there's no evidence to prove the alleged assault happened within the 12-year statute of limitations. The same symptoms also could have been caused by Quaaludes, which additionally make the user "very sleepy", he testified.
The rape allegations are false and baseless". "The rape of a (daughter) is a matter of worry, a shame for the country", he said. Modi also interacted with President of Kiribati, Taneti Maamau, and Prime Minister of Antigua & Barbuda, Gaston Browne.
A tribe of "superhuman" Indonesians have evolved larger spleens that allow them to dive more than 200ft. This gene is also though to control the thyroid gland and its principal hormone Thyroxine or T4.
Four of the Vikings' first seven games will be on the road, after the team played five of its first seven at home past year . The two teams split their meetings last season, with both home teams winning. 49ers at Packers, Oct. 15, 8:15 p.m.
Britain just went more than two days without coal
The U.K. was a very early adopter of renewable energy sources and it has more offshore wind turbines installed than anybody else. The resumption of coal generation appeared to reflect wind power declining in the calmer weather on Thursday morning.
Comey: 'I didn't have confidence' in deputy AG Rosenstein
The 15 pages of Comey memos contain new details about interactions he had with Trump in the weeks before his May 2017 firing . McCabe had not been justified under the media policy of the F.B.I. and Justice Department and constituted misconduct.
Trump Informed He's Not 'Target' Of Mueller
Peduto fired back at the "conspiracies" on Twitter, saying the police memo "doesn't claim to know what the President will do". In an interview the president told reporters he was ready to put the matter behind the country and get back to business.
John Elway Announces No. 5 Overall Pick Up for Trade
No matter what you do. "I've learned a lot since I've been doing this job as far as what certain quarterbacks have success with". Denver could also use a running back like Penn State's Saquon Barkley to replace the recently released C.J.
Popovich To Miss Game 3 After Passing Of His Wife
Warms my heart to see Puddy from "Seinfeld" (actor Patrick Warburton) still paints his face and chest in support of the Devils. There's not much information about Erin Popovich's life available to the public.
Thiem stuns Djokovic in Monte Carlo
At the second time of asking, he was able to serve out the match, snatching his 10th match point of the contest. There is no doubting, though, which was the match of the day for the fortunate ticket-holders on Wednesday.
Prince Harry's Fiancee Meghan Markle Refuses To Wear Fur
The Royal-to-be's half brother Tom has launched a scathing rant at Prince Harry's future wife just days before their big day. According to Time , Meghan will be required to pay USA income tax even after she's Wednesday the prince.
IndusInd's FY17 NPA divergence at Rs 1350 crore
Originally, the bank reported gross NPAs of '1,054 crore, but as per the RBI assessments, they stood at '2,405 crore. The Romesh Sobti-led company saw its operating profit increase by 12.5 percent year-on-year to Rs 1,769.39 crore.