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AMP announces new CEO

AMP has announced the appointment of Scott Hartley as CEO of AMP Australia, effective 11 January 2021.

Scott Hartley has more than 25 years of experience in executive management roles, including 20 years in the wealth management industry.

Mr Hartley, who was CEO of Sunsuper from 2014-19, will take over as CEO of AMP Australia, the merged banking and Australian wealth management business units.

He takes over from Blair Vernon, who was the acting CEO of AMP Australia.

Mr Vernon stepped in on an acting basis following the departure of Alex Wade earlier this year. He will now return to his previous role as CEO of AMP’s New Zealand Wealth Management business, as planned.

Mr Hartley and Mr Vernon will work together as part of AMP’s executive committee.

The new AMP Australia CEO will report to AMP CEO Francesco De Ferrari and “lead the strategic transformation of AMP Australia” across the business’ financial advice, superannuation and platforms, and AMP Bank operations.

Mr Hartley had previously led the transformation of Sunsuper’s culture, technology, investment and multichannel growth capabilities.

According to AMP, this transformation “enabled Sunsuper to grow its market share to become Australia’s fourth largest superannuation and retirement business, a highly regarded industry leader, and most importantly to deliver leading customer outcomes and experience”.

Prior to Sunsuper, Mr Hartley led the corporate and institutional wealth business at MLC/NAB Wealth.

Mr De Ferrari commented: “Scott has an excellent track record in transforming and growing wealth and investment businesses in Australia, and we’re delighted to welcome him to AMP.

“At Sunsuper, he developed a collaborative and inclusive culture that drove the outstanding performance of the organisation.

“His appointment will strengthen our executive team as we drive forward our transformation of the business.”

Mr De Ferrari also thanked Mr Vernon for his work as acting CEO, commenting that the incoming CEO will “build on the high-quality work that Blair Vernon has performed in his four months as acting CEO”.

“Blair stepped into the role at short notice and has been decisive in keeping our transformation activity moving and managing the complex legacy issues of the business.

“He has earned tremendous respect within AMP Australia and will remain a key member of my leadership team,” he said.

The incoming AMP Australia CEO commented: “I’m excited to be joining AMP at a pivotal time for the company. The business is in the midst of a transformation, to which I can bring my experience and capability.

“AMP has played an important role in the lives of many Australians for over 170 years, and I look forward to working with and developing the entire AMP Australia team to fulfill AMP’s purpose of helping its clients realise their ambitions,” Mr Hartley said.

[Related: AMP Australia chief steps down]

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