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Financial services giant AMP Limited has announced a series of significant leadership changes aimed at driving the transformation of the group in 2019.
The shake-up includes the separation of AMP’s insurance and mature business and the transition of its wealth management teams into a single division.
AMP New Zealand’s advice and wealth operations will be led by Blair Vernon. He will also continue to lead AMP’s New Zealand wealth protection and mature operations for an interim period as they transition into the AMP Life business under Megan Beer.
While Australia and New Zealand wealth protection and mature (AMP Life)’s separation and transfer to Resolution Life awaits closing, Beer will lead AMP Life. Post completion in the second half of 2019, Beer will join Resolution Life as chief executive officer AMP Life and head of Resolution’s Australasian region.
Meanwhile, AMP has appointed Alex Wade to lead Australian wealth management bringing together AMP’s advice, wealth management, product and customer solutions teams. In his new role, Wade will be responsible for reinventing the wealth management arm to better compete in the new regulatory environment. Current group executive of wealth solutions & customer, Paul Sainsbury, will remain with the group for an interim period to support Wade’s transition.
Additionally, Craig Ryman has been appointed to the expanded role of chief operating officer. He will be responsible for driving efficiency and improving AMP’s capability to execute and deliver change.
“2019 will be a year of significant transition for AMP, and today’s appointments will drive change while retaining experience in our leadership team,” AMP chief executive officer Francesco Ferrari said. “Today’s changes establish clear accountabilities for a successful separation of the insurance and mature businesses this year and setting up the future direction of the new AMP.”
