Being the twelfth largest economy in the world, Australia is home to several of the world’s largest and innovative companies. The top Australian companies like ANZ, Commonwealth Bank, Wesfarmers, Woolworths, Westpac, National Australia Bank, BHP Billiton, AMP, Macquarie, Telstra etc. Here is the list of the top 10 companies in Australia in 2016 based on revenue, profits and assets figures.
10. AMP Limited
Formed in 1849, as a mutual and nonprofit life insurance company, AMP was founded as the Australian Mutual Provident Society.
Image: company website
AMP started its operations in 1849 and the National Mutual Life Association of Australasia in 1869, and later in 2011, these two separately operating firms decide to merge and create a financial behemoth. It is a financial services company dealing in investment, individual and corporate superannuation products, home loans, savings accounts, life insurance and retail funds.
It is the largest corporate and superannuation provider in Australia with around 101 billion dollars in assets. Its products have won prestigious national awards in 2015 like The Good Design Awards in Australia and the company is the winner of Employer of Choice for Gender Equality.
AMP is also a front runner in the area of real estate management with $18 billion assets in the sector. With an experience of over 160 years, AMP is one of the largest investment managing companies in the Asia Pacific region. 5400 employees currently form the workforce of AMP and help support shareholders, financial advisers and customers. With more than 4400 financial advisers forming the largest financial advice network in Australia and New Zealand, AMP clocked a revenue of 10.3 billion dollars in 2015. AMP also provides banking services to around 100,000 customers through the AMP bank. The National Mutual Association and AMP have supported extensively in the financial and infrastructural development of Australia by financing Australia’s first sky scrapers, roads, airports. AMP currently operates in more than 10 countries worldwide with its head office in Sydney. The company is currently led by Craig Meller as the Chief Executive Officer and Managing Director. It has around 820,000 shareholders with HSBC and JP Morgan holding 23% and 13% stakes respectively.