Ms Wallace has also resigned as Chairman of AMP Capital Holdings Limited.  The effective date will be confirmed following a brief period of transition to allow the effective transfer of the chairmanship.

AMP Interim Executive Chairman Mike Wilkins said: “Our shareholders are demanding board accountability and need to know that meaningful change is underway.  I’d like to thank Patty, Vanessa and Holly for their service to AMP.  They are extremely capable directors who have all made valuable contributions and brought great diversity of thought and experience to the Board.  They have listened to and acted on the feedback from our investors.”

AMP confirms the resolution for the election of Andrew Harmos as a non-executive director remains in place and will be voted at the AGM.

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Ms  Wallace is a non-executive Director of Wesfarmers and most recently was  Executive Chairwoman of Japan and the senior partner in the Asian region for  Strategy& having consulted to the financial services sector across the Asia Pacific for over 30 years.

Ms  Wallace holds a Master of Business Administration with distinction from IMD  Switzerland and a degree in commerce from the University of New South Wales.

AMP  Limited also advised that Mr Paul Fegan has announced his retirement from the  Boards of AMP Limited and AMP Bank Limited effective 30 November 2015.

Mr  Fegan joined the Board in August 2009 and has served as Chairman of both the  Audit Committee and AMP Bank Limited.

Mr Fegan was previously Chief  Executive Officer and Managing Director of St George Bank prior to its merger  with Westpac and Group Managing Director, Strategy and Corporate Services at  Telstra Corporation.

Vanessa Wallace holds a Bachelor of Commerce degree from the University of New South  Wales and a Master of Business Administration from IMD Switzerland.

Prior to its merger with PwC in 2014, Vanessa led Booz & Company’s financial  services practice in Global Markets, was Executive Chairman of Booz &  Company (Japan) Inc. and led the strategy practice.

Previously  she held multiple governance roles at the highest level within Booz’s global  partnership and was actively involved in the firm’s customer, channels and  markets activities which focused on areas such as customer experience, offer  design and channels to market across a number of industries. Vanessa had hands  on experience in mergers and acquisitions and post-merger integration. She was  a director of Booz & Company entities in Australia, New Zealand, Thailand  and Indonesia until 2013.

Following  the PwC merger, Booz & Company changed its name to Strategy& and  Vanessa continued as Executive Chairwoman of Strategy& (Japan) until she  retired in June 2015. Vanessa is also on the Chairman’s Council of the  Australian Chamber Orchestra Pty Ltd and is a member of the AICD.

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