AMP in $2.3b first-half loss and asks shareholders for another $650m. I speak with AMP boss Francesco De Ferrari

The embattled wealth manager AMP has posted a $2.3 billion loss as misconduct revealed in last year's financial services Royal Commission continues to erode the company's once trusted reputation.

The half year loss comes as AMP continues to compensate customers hurt by misconduct, with three billion dollars in cash flowing out of the business as clients look for someone else to manage their money. 

AMP also announced a $650 million capital raising as part of a strategy to transform the company. 

ABC's Peter Ryan speaks with AMP chief executive Francesco De Ferrari.