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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Jack Regan

Hillross is celebrating its 30th anniversary having helped more than one hundred thousand clients to achieve ‘Financial Freedom’.

Since 1987, the Hillross license has grown to become a community of 319 financial advisers across Australia as of June 2017.

Dean Thomas, Managing Director of Hillross, said, “The passion and commitment of our advisers is a rare quality. We partner with our clients for the long term, offering a unique and personalised experience that’s tailored to their needs and financial dreams.

“We offer advisers the boutique positioning of a small licensee. We enjoy the agility and camaraderie of a strong community of advisers, while having access to the commercial intelligence and investment capacity of AMP, the largest financial advice network in the country.

Hillross is proud of its professionally qualified advisers, who have amongst the highest proportion of certified financial planners (CFP) in the profession.

Jack Regan, Group Executive of Advice and New Zealand at AMP, who was Managing Director of Hillross at the turn of the century, added, “’I reflect on my time with Hillross with great affection, marked by the development of so many enduring relationships with so many of our industry’s leading professionals. Hillross is its advisers, and they are renowned for client care and outstanding advice capability.

A special version of the Hillross logo has been developed to mark the occasion.

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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.

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