AMP has announced that global head and managing partner, infrastructure equity, Boe Pahari will become the new CEO of AMP Capital, effective 1 July.
Mr Pahari will succeed Adam Tindall, who will retire from AMP after almost five years leading AMP Capital.
Mr Pahari is currently AMP Capital’s global head of infrastructure equity and director, north-west region, which includes the UK, Europe and the Americas.
Commenting on Mr Pahari’s appointment, AMP CEO Francesco De Ferrari said that with Mr Tindall’s decision to retire, AMP Capital aimed to appoint a successor with a global view and track record for growth.
“Boe has led the international expansion of our infrastructure equity business over the pas six years, demonstrating his capability and strategic acumen,” Mr De Ferrari said.
“As incoming CEO, Boe’s mandate will be to continue to grow the business, capitalising on its strengths and the opportunities in infrastructure and real assets.”
Mr Pahari has over 25 years of international experience in financial services. He joined AMP Capital in March 2010 as head of infrastructure, Asia and Australia, before transferring to become head of infrastructure, Europe and the Americas, and then global head and managing partner, infrastructure equity in December 2014.
In March 2016, his role was expanded to include leadership of the distribution functions supporting the north-west region, namely Europe, India, the Middle-East and the Americas, while retaining responsibility for leading the infrastructure equity business and managing the global infrastructure fund.
As part of his wider responsibilities as AMP Capital CEO, Mr Pahari will continue to oversee the infrastructure equity business, which at FY 2019, had $23 billion in assets under management.
Commenting on his appointment as CEO of AMP Capital, Mr Pahari said he was honoured to be “entrusted with the task of leading its continued growth”.
“We have substantial scope to expand globally, further leveraging our strengths, particularly in infrastructure and real assets,” he said.
“I’m firmly focused on ensuring AMP Capital maintains the unwavering commitment to clients it has had under Adam’s leadership, and continues to adapt to deliver the investment capability they need.”
Mr De Ferrari also acknowledged Mr Tindall’s service to the company during his tenure.
“I would like to thank Adam for his dedicated and thoughtful leadership of AMP Capital over the past five years. AMP Capital has continued its growth under his watch, and he leaves with our best wishes.”
Mr Tindall was appointed as CEO of AMP Capital five years ago, during which time AMP Capital has grown assets under management by approximately $43 billion and increased the operating earnings of the business by more than 43 per cent from FY15 to FY19.
He joined AMP Capital in 2009 as chief operating officer, property, and director and chief investment officer, property.
Prior to joining AMP Capital, Mr Tindall was executive director, property and infrastructure, at Macquarie Group for five years.
Mr Tindall will work with Mr Pahari through a transition period to ensure a smooth handover.
[Related: AMP changes leadership team]
Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.
Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.