AMP Limited has announced a series of changes to its senior leadership team to create clearer accountability for driving short-term business performance and delivering longer-term growth.
AMP Chief Executive Craig Meller said the new group structure delivers sharper focus on performance in the core Australian businesses, drives efficiency across the group and provides increased emphasis on the growth drivers in the portfolio.
The key changes to the group leadership team are:
- Wealth Solutions and Customer: Paul Sainsbury will lead a new division bringing together customer, wealth management and product solutions.
- Advice and New Zealand: Jack Regan, currently Managing Director New Zealand, will lead an expanded portfolio, assuming responsibility for AMP’s advice businesses. Mr Regan will retain responsibility for the management of AMP New Zealand.
- AMP Bank: Sally Bruce will join the group leadership team as Group Executive, AMP Bank.
- Insurance: Megan Beer will be appointed Group Executive, Insurance, bringing single point accountability to the stabilisation and management of the insurance business.
- Technology and Operations: Craig Ryman will become Group Executive, Technology and Operations, assuming an expanded portfolio combining IT and operations.
- Enterprise Risk Management: Saskia Goedhart, Chief Risk Officer, will join the group leadership team.
The leadership changes are effective 1 January 2017. Management of the other divisions remain unchanged. An updated structure chart and biographies are attached.
As a result of the changes, three executives will leave the organisation: Pauline Blight-Johnston, Group Executive, Insurance, Super and Risk Management; Rob Caprioli, Group Executive, Advice and Banking; and Wendy Thorpe, Group Executive Operations. Ms Thorpe had previously advised her intent to retire and will leave the business in early 2017 after helping to ensure the smooth transition of the operations function. Ms Thorpe will also shortly join the board of AMP Bank as a Non-Executive Director.
“I would like to thank those executives who are leaving the organisation for their contribution to AMP and to the transformation of our core Australian business during the past three years. I wish each of them well for the future,” said Mr Meller.