A ‘proven change agent’ has been appointed to take on the challenging task of driving the recovery of an embattled wealth giant and set the strategy for its future growth.
Effective December 01, Francesco De Ferrari will become AMP’s new CEO after 17 years at Credit Suisse where he served as CEO for Southeast Asia and frontier markets and head of private banking at Asia-Pacific.
De Ferrari will succeed Mike Wilkins who has been acting as interim CEO since late April when Craig Meller resigned amid the widening fees-for-no-service scandal at the financial services royal commission.
Wilkins will be returning to his post as non-executive director on the AMP board after the handover.
AMP chairman David Murray said De Ferrari is “an outstanding leader with a strong track record in international wealth management and extensive experience in redesigning business models to drive turnaround and growth” and “a proven change agent who will bring the strategic acumen and expertise to spearhead the transformation needed in our business.”