In a recent ASX update, the group said Vanessa Wallace will join the company as a non-executive director on 1 March 2016.
Ms Wallace is also a non-executive director of Wesfarmers, and most recently was executive chairwoman of Japan and senior partner in the Asian region for global strategy consulting firm Strategy&, having consulted in the financial services sector across the Asia Pacific for over 30 years.
Ms Wallace’s appointment follows the departure of Mr Fegan, who stepped down from his position on the board of AMP and AMP Bank on 30 November 2015.
Mr Fegan was previously the CEO and managing director of St George Bank prior to its merger with Westpac.
[Related: AMP Bank appoints new boss]