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AMP acting CEO joins FSC board

The industry body has announced that AMP Australia’s acting CEO will join its board as a director.

The Financial Services Council (FSC) has appointed Blair Vernon as a director to its board.

The industry body, which represents retail and wholesale funds management businesses, superannuation funds, life insurers, financial advisory networks and licensed trustee companies, said Mr Vernon would bring more than 25 years of experience in the industry, including his experience as a financial services executive with capabilities across a range of disciplines.

Mr Vernon joined AMP Australia in 2009 and has held several senior executive roles. He was appointed managing director of AMP Wealth Management New Zealand in 2017, before becoming CEO in February 2019.

In August 2020, Mr Vernon was appointed acting CEO of AMP Australia, responsible for AMP’s Australia retail business, including its wealth management and banking divisions.

Mr Blair’s appointment to the acting CEO role followed the resignation of former CEO Alex Wade, who left the business.

Jeff Ruscoe, chief client officer of AMP Wealth Management New Zealand, replaced Mr Vernon as acting CEO of that division.

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Commenting on his appointment to the FSC board, FSC chairman Geoff Lloyd said Mr Vernon’s ability to create sustainable value for all financial services stakeholders through leadership, strategic insight and creative thinking would be valued by the board.

“Blair has demonstrated strong governance experience across a range of companies and circumstances, and these skills are highly regarded by the FSC board,” My Lloyd said.

[Related: AMP appoints head of real estate business]

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