The new leadership team consists of a complementary mix of existing AMP leaders, leaders new to AMP and internal promotions. The team has the capability and experience to drive the transformation of the AMP Australia business, and each has the attributes to lead a high-performance culture.

Mr Hartley will have seven direct reports with a diversity of tenure, background and gender.

The updated operating model will mean a sharper focus for both Platforms and Super with these two businesses being separated. Accountability for investment performance is being brought into AMP Australia and a new Chief Investment Officer is being appointed to the leadership team. The structure will provide end-to-end business accountability for each Director to promote performance and execution of the strategy.

There are three new leaders joining from outside of AMP:

• Matt Lawler is the new Managing Director Advice. He brings experience in large scale advice transformations and a deep knowledge of building and operating successful advice businesses. He has led advice and broking businesses at MLC/NAB, was CEO Wealth Management of Yellow Brick Road, and most recently CEO of Wealth Market, a privately owned advice business.
• Anna Shelley is appointed Chief Investment Officer (CIO). Anna is a highly respected investment professional and leader. She has a deep background in investments, having spent over 13 years with JANA, as well as Perpetual Investments and has been the CIO of Equip super and Catholic Super funds since April 2018. Anna is replacing Debbie Alliston who is retiring from executive positions and will finish on 31 July after 10 years of exceptional service.
• Jason Sommer will be the new Director, Transformation & Investments. He is a highly experienced and successful transformational leader and joins from Sunsuper where he is currently Chief Financial Officer (including investment product and operations) and is a member of the executive team.

Ilaine Anderson and Sean O’Malley, who have both been acting in the roles of Super, Retirement and Platforms, and AMP Bank respectively, have been permanently appointed to their roles:

• Ilaine Anderson is Director, Super & Retirement. Ilaine is an experienced senior executive, who has been Director of Workplace Superannuation at AMP Australia and has held leadership roles in a number of industries including wealth management, professional services and HR.
• Sean O’Malley is Managing Director, AMP Bank. He has 25 years of experience predominantly in financial services and has held several senior positions within AMP Bank over the past five years, including leading Technology and Operations, and successfully delivering the Future AMP Bank – technology modernisation program.

Also on the leadership team:

• Edwina Maloney is the Director, Platforms, which is a new role comprising Wrap and SMSF platforms. Edwina will join from AMP Capital, where she is currently Global Head of Product and brings strong leadership, strategic capability, and an understanding of advisers from her experience promoting investment products at both AMP Capital and Perpetual.
• James Kent, Chief Technology Officer, AMPA, continues in his important role leading the strategic delivery, support and enhancement of AMPA’s technology, digital, data and analytics capabilities.

The extended leadership team also consists of Client Services led by Steve Vaid, and Adviser Distribution led by Nicole Mahan and four Group-aligned leaders across finance, people and culture, legal, and risk. Nicole will continue to play a critical role in business performance in line with her focus on AMP’s relationships with advisers.

Scott Hartley, Chief Executive Officer AMP Australia, said: “As well as bringing together an experienced leadership team with four new executives, we also have an updated operating model to deliver a flatter structure to enable empowered, distributed leadership. This will improve efficiency and ultimately the performance of the business by giving our leaders end-to-end operational accountability.

“The four new leaders will be in place by July this year. They bring the skills and experience needed to help AMP deliver the transformation of its business and will complement existing skills AMP has in its current leadership group.

“The new leaders have all worked in large institutions and small to medium sized businesses. They will bring a healthy perspective on how we ensure AMP Australia is a lean, efficient and competitive business.

“We’ve looked for individuals who are excited about the opportunities, have a firm grasp of the challenges we have as an organisation, and a strong sense of urgency about the changes we need to see in our business.

“I’m very pleased we are bringing in such well respected, talented executives, to help transform the business, and I am confident we now have the team to successfully deliver on the strategy.”

Matt Lawler takes over from David Akers as Managing Director, Advice. David has led the Advice business and AMP’s aligned advice network through a very difficult period of industry disruption and regulatory change, and has positioned the advice business well to capitalise on the opportunities for AMP and its advisers.

“David has led the business with strength, integrity and vision. With the transformation now well underway, it is the right time to transition to a new leader, who is well positioned to take the advice business through the next phase of transformation and growth.

“Ahead of Matt’s arrival, David will continue to lead the Advice business to maintain the momentum we have in our advice transformation, with the priorities for the business and the network remaining unchanged.”

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Mr Wade will report to AMP Chief Executive Francesco De Ferrari and will lead the continuing transformation of AMP’s advice business.

Mr Wade will succeed AMP Group Executive, Advice and New Zealand, Jack Regan, who will retire from AMP after nearly 20 years of distinguished service.

David Akers, who has been AMP’s Acting Group Executive, Advice, while Mr Regan has been on extended leave, will work with Mr Wade to transition responsibilities and will return to the advice leadership team. Blair Vernon will continue as Managing Director of New Zealand.

Mr Wade has substantial experience in the wealth management and banking industries and has a strong track record in building and leading businesses. Most recently, he served as the Head of Developed and Emerging Asia for Credit Suisse Private Banking. Mr Wade has been with Credit Suisse for 12 years, holding other roles such as Chief of Staff for Asia Pacific and Head of Private Banking Australia. He has significant experience in financial services in Australia, Singapore and Hong Kong.

AMP Chief Executive Francesco De Ferrari said:

“Alex is a talented leader and strategic thinker, who will bring valued experience and relationships to AMP’s advice business. The financial advice industry in Australia is in the process of renewal, and AMP and Alex will play a prominent role in driving this change. We firmly believe that financial advice is essential for helping people manage their finances, and plan for retirement.

“I offer the warmest thanks to Jack Regan for his commitment to our advisers, customers and employees over his long service at AMP. After ten years leading AMP New Zealand, Jack took on the Group Executive, Advice and New Zealand, role in 2017, bringing his deep understanding of the advice industry to improve the governance and controls of the business. Jack is greatly respected across the advice industry and retires with the best wishes of everyone at AMP, including the many advisers across our network.

“I would also like to thank David Akers for taking on the role of Acting Group Executive, Advice, this year.”

Incoming AMP Group Executive, Advice, Alex Wade said:

“I am delighted to be joining AMP at such a significant time for the company. Though the industry and AMP have faced scrutiny this year, AMP advisers have a long history of helping and supporting people across Australia plan their financial lives and achieve their personal goals.

“The industry is changing for the better and it is committed to reaching new, higher standards of professionalism. AMP has been proactively transforming its business and developing new systems and technology to improve the advice process and strengthen governance, compliance and controls – all which results in an enhanced advice experience for customers.

“I am looking forward to meeting and getting to know our advisers, and working with Francesco to drive further change.”

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2018 AMP University Challenge finalists, from left to right: William Nakos (RMIT), Ashley Fernandes (Western Sydney University), Shane Harris (RMIT), Sarah Toan (Western Sydney University), Kimberley Guild (La Trobe), competition winner Michael Reardon (Deakin University).

Now in its eighth year, the AMP University Challenge is a national financial planning competition for tertiary students that aims to identify promising new talent and promote high standards of education and professionalism among the next generation of advisers.

The Deakin student scored the most points in the technical quiz and performed strongly in the simulated client meeting to take the title, although the final result was close.

AMP Acting Group Executive Advice, David Akers congratulated Mr Reardon, noting the high standard of competition on display.

“I am always impressed by the knowledge and maturity of the students who make it to the University Challenge finals,” Mr Akers said.

The finalists took part in a series of challenges, which also included a pitch to the judges on their idea for a financial literacy program for young people.

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Finalists submitted financial plans based on a hypothetical client case study.

Six university students have beaten more than 650 competitors to reach the finals of the 2018 AMP University Challenge, the premier competition for tertiary students with career ambitions in financial advice and financial services.

This year’s qualifying finalists are Kimberley Guild (La Trobe), William Nakos (RMIT), Michael Reardon (Deakin University), Shane Harris (RMIT), Ashley Fernandes and Sarah Toan (a team from Western Sydney University).

The six finalists, representing the top one per cent of entries, submitted the best examples of a financial plan based on a hypothetical client case study.

The finalists will gather from around the country next week to compete in an intense day of technical quizzes, role playing, and public speaking at AMP’s head office in Sydney.

The ultimate individual or team winner will take away a prize of $5,000.

AMP Group Executive Advice, David Akers, said he was pleased to see such a large number of entries, with all Australian states represented.

“It’s great to see young people in business and finance studies choosing a career in financial advice,” Mr Akers said.

“It’s a profession that gives people a genuine opportunity to positively affect people’s lives.”

Now in its eighth year, the AMP University Challenge is a key pillar of AMP’s strategy to promote high standards of education and professionalism in financial advice.

Previous winners have gone on to secure advice roles in the AMP network and elsewhere.

Mr Akers said he expects this year’s judges will have a difficult time choosing a winner, with all the finalists producing exceptional work.

“There’s some strong talent and great commitment from Australia’s younger generation looking to a career in financial planning – and that’s a positive sign for the future success of the industry,” he said.

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Luke Symons

AMP has appointed experienced financial services executive Luke Symons as Director, Channel Performance & Growth in its Advice business to help drive the company’s rebuilding and growth strategy forward.

This is a key strategic role, responsible for strengthening AMP’s advice network and the professional delivery of financial advice.

Mr Symons has experience across advice, retail and commercial banking and wealth management.

He held a number of executive leadership roles at ANZ and led national teams in banking and financial planning, where he was responsible for business transformation and the customer experience.

Mr Symons was also the founder of an advisory and fintech business, servicing the wealth management, accounting and financial services industries. He specialised in the design and execution of technology solutions to help businesses address financial services legislation.

Acting Group Executive Advice, David Akers said Mr Symons’ expertise and experience were a valuable acquisition for the Advice business.

“Luke’s background covers many areas that are priorities for our business, such as digital solutions and strategy development,” Mr Akers said.

“He also understands small businesses and how to partner with them to help them grow sustainably, which is a boost for the hundreds of advice practices in our aligned advice network.”

Mr Symons said: “AMP has a proud history and I am proud to be part of it. Despite recent challenges, I believe the company will continue to make a valuable contribution to customers’ lives and lead the way in building a sustainable and strong future for financial advice.”

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Last year’s AMP University Challenge winners from Griffith University.

University and TAFE students from around Australia have begun their quest to win the 2018 AMP University Challenge, the ultimate contest for those with career ambitions in financial advice and financial services.

Competitors this week received a hypothetical client case study, for which they will have to devise a financial plan to impress the judges.

The teams or individuals with the best responses will be chosen to compete on Finals Day at AMP Headquarters in Sydney later in the year.

Finalists are flown in from around the country to compete in an intense, exciting day of technical quizzes, role playing and public speaking.

First prize includes $5,000.

AMP Director of Advice Strategy & Services David Akers said the competition was a unique opportunity for students to test their skills and knowledge in a close to real world scenario.

“The competition takes the capabilities that students have developed during their degree and puts them through their paces in a number of simulated experiences including client interviews,” Mr Akers said.

“The students who come out on top will have shown that they can bring together their interpersonal skills and technical knowledge, the hallmark of a professional adviser.”

Now in its eighth year, the AMP University Challenge is a key pillar of AMP’s strategy to support high standards of education and professionalism in financial advice.

Mr Akers said that identifying and cultivating the next generation of financial advisers through initiatives like the AMP University Challenge was vital to the industry, particularly with the pending introduction of new, higher education standards for advisers.

“We want to help build a sustainable, trusted profession in touch with the needs and aspirations of Australians,” he said.

“The enthusiasm and idealism of the students we meet through the competition is heartening for all of us who want to see more Australians get the benefits of quality financial advice.”

The competition is open to all full or part time Australian tertiary students. Enter at www.ampuniversitychallenge.com.au

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Now in its seventh year, the AMP University Challenge is a national financial planning competition for tertiary students that aims to identify promising new talent and promote high standards  of education and professionalism among the next generation of advisers.

This year, more than 700 students from Australia’s leading institutions entered the competition, a record field.

AMP Director of Channel Strategy & Services, David Akers said the high standards of technical knowledge and practice on display reflected well on the up and coming generation of advisers and finance professionals.

“AMP wants to nurture a new generation of financial advisers in keeping with the drive for higher standards and greater levels of education in the industry,” Mr Akers said.

“The performance of the finalists in the AMP University Challenge and the overall standard of entries this year shows that the future is in good hands.”

Students, participating as individuals or in teams, were required to submit a financial plan for a  hypothetical client as part of their initial competition entry.

The top 5 entries were then chosen to  participate in the Finals Days in Sydney where they took part in a technical quiz, made a presentation on Australia’s retirement income system and put their  people skills to the test by delivering their financial plan in a simulated client meeting.

It was also a chance for them to mix with senior advice professionals and academics and explore their career opportunities at the headquarters of Australia’s largest network of financial advisers.

AMP Academy and Education Manager, Louise Trevaskis said: “As part of the industry reform process there has been a strong focus on the important role of financial advisers in society and the need for more Australians to receive quality financial advice.”

“I think this is helping drive a renewed interest in an advice career among young people and shows how rewarding it can be to help other Australians become more confident about their financial future.”

First prize for the winning team was $5,000 along with registration to attend the 2017 FPA Professionals Congress.

Students from the University of Queensland and Western Sydney University took out second and third prizes respectively, which included student membership of the FPA. TAFE NSW and La  Trobe University students achieved the fourth and fifth places.

The AMP University Challenge is integrated into the curriculum and assessment for students studying financial planning majors at Deakin University, TAFE NSW, La Trobe University and Western Sydney University.

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