AMP appoints first Australian managing director role

On Tuesday (12 February), global investment manager AMP Capital announced the appointment of Marsha Beck to its newly created role of managing director Australia, effective immediately.

Ms Beck has led the company’s global consultant and account management strategy for AMP Capital’s Asia-Pacific client division since November 2015.

In her new role, Ms Beck will head up all the retail and institutional client teams for the Australian region under one role.

The position has reportedly been created to bolster resourcing in Australia.

AMP Capital’s director for the Asia-Pacific region, Craig Keary, elaborated: “The strong qualities Marsha brings in terms of customer advocacy and engagement with clients will be important as we re-position our Australian business.”

“Having direct responsibility of Australia will deliver increased focus on establishing strong relationships with our key clients and partners while driving greater collaboration and integration across our Australian distribution and investment businesses,” he continued.

Mr Keary continued: “While we reset and refocus our efforts domestically, it’s important that we have the right leadership in Australia to navigate this period, ensure that we put clients at the centre of our business and set us up for future success.”

“I am delighted Marsha will be leading the Australia client teams,” he added.

Ms Beck holds an honours degrees in arts and law, a master’s degree of applied finance and investment, the CIMA® certification and is a graduate of the Australian Institute of Company Directors.

Marsha is also a non-executive director and is currently serving as deputy chair of the board of CIMA Society of Australia.  

The creation of the role of managing director Australia follows a difficult 12-month period for the financial services industry and AMP Capital’s Australian business, the business conceded.

The AMP group, including AMP Capital, AMP Bank and its wealth management arm, had been hit hard by the admissions from the financial services royal commission that the wealth arm of the group had repeatedly misled corporate regulator and had charged thousands of customers fees for financial advice that was never provided.

Last month, the group revealed that profit attributable to shareholders in 2H18 had been impacted by costs arising from the royal commission response, portfolio review, increased investment in risk, governance and controls, and advice remediation.

[Related: AMP profits plummeted in 2018]