AMP appoints Executive Director Advice amid restructure

AMP has announced a new operating structure for its advice business, that will see the establishment of a dedicated governance function and independent boards for each licensee. In addition, a new channel strategy and services team will focus on "simplifying processes for advisers while driving innovation".

Michael Guggenheimer, former managing director of Hillross and AMP Financial Planning, has been appointed to the new role of executive director of advice, tasked with establishing the licensee boards and continuing AMP's focus on "quality governance".

In addition to Guggenheimer's appointment, the new leaders are:

* Michael Paff, former director of channel services, appointed as managing director of a new unit comprising the integrated businesses of AMP Financial Planning, AMP Advice, AMP Horizons and AMP Direct;
* Dean Thomas, former director of product strategy and services, appointed as managing director, Hillross;
* Neil Swindells, former head of iPac, appointed as managing director, Charter;
* Chris Digby, former head of financial planning - Hillross & Charter (NSW/ACT), appointed as managing director of SMSF Advice and Jigsaw; and
* Dave Akers, former AMP transformation director, appointed as director, Channel Strategy and Services.

Commenting on the new structure, Jack Regan, group executive Advice and New Zealand said: "We are proud of the difference our financial advisers make to the lives of their customers and recognise the value of our Hillross, Charter, Jigsaw, SMSF Advice, AMP Financial Planning and AMP Advice businesses. Our simplified and enhanced operating structure will better support and grow this network."