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Australia's AMP to merge banking, domestic wealth management businesses

Oct 10 (Reuters) - Beleaguered Australian wealth manager AMP Ltd said on Thursday it will merge its banking and Australian wealth management business units into a new entity to be named AMP Australia.

AMP Australia will be led by Alex Wade, currently CEO of the Australian wealth management arm, AMP said in a statement. (Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by Muralikumar Anantharaman)

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