AMP Australia Chief Executive Officer Scott Hartley has announced his new leadership team and an updated operating model, designed to deliver increased performance and greater efficiency for the Wealth Management business and AMP Bank.
The new leadership team consists of a complementary mix of existing AMP leaders, leaders new to AMP and internal promotions. The team has the capability and experience to drive the transformation of the AMP Australia business, and each has the attributes to lead a high-performance culture.
Mr Hartley will have seven direct reports with a diversity of tenure, background and gender.
The updated operating model will mean a sharper focus for both Platforms and Super with these two businesses being separated. Accountability for investment performance is being brought into AMP Australia and a new Chief Investment Officer is being appointed to the leadership team. The structure will provide end-to-end business accountability for each Director to promote performance and execution of the strategy.
There are three new leaders joining from outside of AMP:
- Matt Lawler is the new Managing Director Advice. He brings experience in large scale advice transformations and a deep knowledge of building and operating successful advice businesses. He has led advice and broking businesses at MLC/NAB, was CEO Wealth Management of Yellow Brick Road, and most recently CEO of Wealth Market, a privately owned advice business.
- Anna Shelley is appointed Chief Investment Officer (CIO). Anna is a highly respected investment professional and leader. She has a deep background in investments, having spent over 13 years with JANA, as well as Perpetual Investments and has been the CIO of Equip super and Catholic Super funds since April 2018. Anna is replacing Debbie Alliston who is retiring from executive positions and will finish on 31 July after 10 years of exceptional service.
- Jason Sommer will be the new Director, Transformation & Investments. He is a highly experienced and successful transformational leader and joins from Sunsuper where he is currently Chief Financial Officer (including investment product and operations) and is a member of the executive team.
Ilaine Anderson and Sean O’Malley, who have both been acting in the roles of Super, Retirement and Platforms, and AMP Bank respectively, have been permanently appointed to their roles:
- Ilaine Anderson is Director, Super & Retirement. Ilaine is an experienced senior executive, who has been Director of Workplace Superannuation at AMP Australia and has held leadership roles in a number of industries including wealth management, professional services and HR.
- Sean O’Malley is Managing Director, AMP Bank. He has 25 years of experience predominantly in financial services and has held several senior positions within AMP Bank over the past five years, including leading Technology and Operations, and successfully delivering the Future AMP Bank – technology modernisation program.
Also on the leadership team:
- Edwina Maloney is the Director, Platforms, which is a new role comprising Wrap and SMSF platforms. Edwina will join from AMP Capital, where she is currently Global Head of Product and brings strong leadership, strategic capability, and an understanding of advisers from her experience promoting investment products at both AMP Capital and Perpetual.
- James Kent, Chief Technology Officer, AMPA, continues in his important role leading the strategic delivery, support and enhancement of AMPA’s technology, digital, data and analytics capabilities.
The extended leadership team also consists of Client Services led by Steve Vaid, and Adviser Distribution led by Nicole Mahan and four Group-aligned leaders across finance, people and culture, legal, and risk. Nicole will continue to play a critical role in business performance in line with her focus on AMP’s relationships with advisers.
Scott Hartley, Chief Executive Officer AMP Australia, said:
“As well as bringing together an experienced leadership team with four new executives, we also have an updated operating model to deliver a flatter structure to enable empowered, distributed leadership. This will improve efficiency and ultimately the performance of the business by giving our leaders end-to-end operational accountability.
“The four new leaders will be in place by July this year. They bring the skills and experience needed to help AMP deliver the transformation of its business and will complement existing skills AMP has in its current leadership group.
“The new leaders have all worked in large institutions and small to medium sized businesses. They will bring a healthy perspective on how we ensure AMP Australia is a lean, efficient and competitive business.
“We’ve looked for individuals who are excited about the opportunities, have a firm grasp of the challenges we have as an organisation, and a strong sense of urgency about the changes we need to see in our business.
“I’m very pleased we are bringing in such well respected, talented executives, to help transform the business, and I am confident we now have the team to successfully deliver on the strategy.”
Matt Lawler takes over from David Akers as Managing Director, Advice. David has led the Advice business and AMP’s aligned advice network through a very difficult period of industry disruption and regulatory change, and has positioned the advice business well to capitalise on the opportunities for AMP and its advisers.
“David has led the business with strength, integrity and vision. With the transformation now well underway, it is the right time to transition to a new leader, who is well positioned to take the advice business through the next phase of transformation and growth.
“Ahead of Matt’s arrival, David will continue to lead the Advice business to maintain the momentum we have in our advice transformation, with the priorities for the business and the network remaining unchanged.”