AMP Hires Bankers Amid Increased ‘Unsolicited’ Interest (1)

Scandal-plagued Australian wealth manager AMP Ltd. has appointed bankers to review its businesses, saying it has received an increase in unsolicited interest about its assets.

Goldman Sachs Group Inc. and Credit Suisse Group AG will lead the review, Sydney-based AMP said in a statement Wednesday.

AMP shares have lost almost three-quarters of their value since the start of 2018 amid a series of scandals that have battered the 171-year-old firm’s reputation and sliced earnings. Last week, finance industry veteran David Murray resigned as chairman and the head of the firm’s investment management arm was demoted as a sexual harassment scandal ...