It’s been a tough few weeks for AMP CEO Andrew Mohl, and it’s not going to get any easier in the immediate future as he sets off around the world to try to sell the group’s controversial demerger plans. The demerger is expected to see the group’s Australian operations carry about $3 billion in debt, while the split-off UK operations start again with no debts and little exposure to the volatile equities market.

Mr Mohl will be expecting a torrid time from US and British investors. In Australia, less than 3% of AMP’s 960,000 retail investors have shown confidence in the group by subscribing to the $750 million share purchase plan, and speculation is beginning to mount over the group’s exposure to takeover.

Even Mr Mohl’s highly valued network of financial planners is restless, with reports suggesting many are making moves to split from AMP. The 1800 planners have been assured of AMP assistance to weather the transition to a demerged model, but the demerger plan and $2.6 billion writedowns have impacted on confidence in the group from investors and planners.

The AMP financial planners are crucial to the company’s continuing development, and it’s understood AMP will do whatever is necessary to keep their ranks intact. Its efforts are likely to be assisted by the general downturn in the financial markets, which have seen retail product sales fall to their lowest levels since the mid-’90s.