Effective from 1 January 2017, the changes will see several AMP members move to leadership roles and will result in three executives leaving the organisation as part of a move to create “clearer accountability for driving short-term business performance and delivering longer-term growth”. Management of the other divisions will not change.
The three executives that will leave the organisation are: 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 reportedly previously advised of her intent to retire and will leave the business in “early 2017” after “helping to ensure the smooth transition of the operations function”. She will then join the board of AMP Bank as a non-executive director.
The new members of the team include:
- Sally Bruce, group executive, AMP Bank Ms Bruce, the current managing director of AMP Bank, will join the group leadership team as group executive of AMP Bank.
- Jack Regan, group executive, advice and New Zealand Having managed New Zealand financial services and responsible for AMP's operations in New Zealand, Mr Regan will now also be assuming responsibility for AMP's advice businesses.
- Paul Sainsbury, group executive, wealth solutions and customer. Mr Sainsbury will lead the new division that brings together customer, wealth management and product solutions. He was previously chief customer officer.
- Megan Beer, group executive, insurance Ms Beer, previously director, insurance, will be appointed as group executive, insurance, and according to AMP wil bring a “single point accountability to the stabilisation and management of the insurance business”.
- Saskia Goedhart, chief risk officer Ms Goedhart, chief risk officer, will join the group leadership team.
- Adam Tindall, chief executive officer, AMP Capital Mr Tindall was appointed chief executive officer of the specialist investment manager in 2015 and will form part of the leadership team.
- Craig Ryman, group executive, technology and operations Mr Ryman will become group executive, technology and operations, assuming an expanded portfolio combining IT and operations.
Speaking of the change in structure, AMP CEO 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”.
He added: “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.”
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Annie Kane is the editor of The Adviser and Mortgage Business.
As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts.