At an analyst briefing on his firm's latest quarterly results Thursday, AMP CEO Francesco De Ferrari suggested that MUTB's acquisition last year of Commonwealth Bank of Australia's money management subsidiary, First State Investments — to be renamed First Sentier Investors in September — drove the move to end the two firms' capital tie-up. MUTB "bought a key competitor of ours here on the market, and we needed to resolve the strategic dilemma, so we parted as good partners, each driving their own strategy," he said. AMP and Mitsubishi UFJ Financial Group, the parent company of MUTB, said AMP Capital and MUTB will continue to cooperate strategically, with AMP Capital continuing to deliver its investment products through MUTB's network. In partnership with MUTB, AMP Capital has been able to post "significant growth in Asia," Mr. De Ferrari said in AMP's news release.