Edwina Maloney
AMP has announced three new executive roles and a flattened organisational structure, as part of the ongoing simplification and streamlining of its business following the AMP Capital sales.
AMP will elevate leadership of its Platforms and Advice businesses in two new roles on its executive committee. A third new executive committee role of Group Executive Super and Investments will combine responsibility for the Superannuation–Master Trust and Investments businesses.
Edwina Maloney who leads the Platforms business and Matt Lawler who leads the Advice business, will continue to perform their current roles and become part of the executive committee. Their new titles will be Group Executive Platforms and Group Executive Advice, respectively.
AMP will conduct an internal and external search to fill the third position of Group Executive, Super and Investments. Jason Sommer, currently Director – Transformation and Investments, Australian Wealth Management will act in the role until the permanent position is filled. Chief Investment Officer Anna Shelley and Director Super and Investments Ilaine Anderson will report into this new executive position. Anna Shelley will also have a dotted reporting line to CEO Alexis George for group investment activities.
The appointments follow the recent decision to remove the role of Australian Wealth Management CEO, held by Scott Hartley and to simplify the business structure. It also follows the decision to combine the roles of Chief Financial Officer and Group Executive Transformation, now held by Blair Vernon.
AMP Chief Executive, Alexis George commented:
“The AMP Capital sales have made for a much simpler AMP and these executive changes reflect that by flattening our management structure, particularly in wealth management.
“This elevates key businesses to the executive team, further increasing visibility and accountability for performance and cost management, while also bringing the executive committee closer to our customers and to advisers.
“The new operational structure supports our focus on being a leading provider of retirement solutions and helping more Australians to meet their financial goals.
“The new executives have proved themselves as high-quality leaders and I look forward to working more closely with them.
“Again I would like to thank Scott Hartley for the work he has done to reposition AMP’s wealth management businesses.”
The new appointments come into effect on 31 July 2023.