The AMP Ltd (ASX: AMP) share price has copped it more than most ASX 200 shares over the past month or so. It was only back in mid-September that the AMP share price looked like it was closing in on its 52-week high, hitting $1.31 a share on 15 September.
But fast forward to today, and those same shares are going for just $1.05 each, down a nasty near-20% since that mid-September high.
Even during today's trading session so far, the AMP share price seems subdued. At present, the ASX 200 financial services share is sitting flat at $1.05, despite the broader ASX 200 gaining a far rosier 0.35%.
That's despite some news out of AMP that shareholders might find of interest this Tuesday.
This morning, AMP made an announcement relating to the appointment of a new executive. Melinda Howes has just been appointed as AMP's new group executive superannuation and investments and a member of the company's executive committee.
Howes is currently a partner at KPMG and previously worked at BT Financial Group, as well as at AMP itself.
According to AMP:
Ms Howes will lead AMP's combined Superannuation-Master Trust and Investments businesses. The role will drive the strategy for AMP's Super business, as well as overseeing Investment performance and management.
Here's some of what AMP CEO Alexis George had to say on the appointment:
I'm very pleased we have secured a leader of Melinda's calibre and experience to lead the management and investment performance of the retirement savings of our superannuation members. Melinda is a highly respected leader in the superannuation industry and will be able to build on the significant work we've undertaken in recent years to simplify and strengthen our offer for members.
She joins at pivotal time for our industry, as we come together with Government and regulators to ensure we do more to provide Australia's growing number of retirees with the financial confidence to spend and enjoy their savings in retirement.
It's unclear whether today's announcement has had any impact on ASX investors or is responsible for the AMP share price's lacklustre performance this session. But we can probably assume that it hasn't boosted investors' desire for the company's shares today, judging by what has happened to the share price so far.
Image source: Getty Images
AMP share price snapshot
In addition to the rough year AMP shares have had in 2023 so far, long-term investors are also still suffering.
AMP also remains down by 11.76% over the past 12 months, and down by 55.9% over the past five years.
At the current AMP share price, this ASX 200 share has a market capitalisation of $2.91 billion, with a dividend yield of 4.75%.
