AMP hires CFO

AMP has welcomed Peter Fredricson as its new chief financial officer, replacing James Georgeson.

As finance chief, he will join the group executive committee.

Until February, Fredricson was acting chief executive and finance chief of Oil Search where he oversaw the merger with Santos.

Before that, he was CFO of APA Group, the energy infrastructure business Over 11 years he raised more than $5 billion in equity to support the company's merger program and helped grow the business from an ASX 200 entity to an ASX top 50 company.

Fredricson also has 15 years of career experience in financial services and investment banking with Merrill Lynch, Tower Corporation and Grant Samuel. His career has also involved a significant transformation of finance, operations and the broader business.

"I am very pleased to have someone of Peter's calibre and experience joining the team at this critical point in our transformation. Peter will play a key role in helping accelerate our strategic growth plan," said AMP chief executive Alexis George.

The chief executive acknowledged Georgeson's contribution to AMP since joining the business in 2001, saying his experience and deep knowledge of AMP have been instrumental in leading the group through significant change.

"Over the last three years, he has helped lead and oversee the divestment of a number of businesses and has supported the transformation of AMP," she said.

"With these divestment programmes now concluded and the sales of the AMP Capital businesses progressing towards completion, he has decided it is the right time to explore new opportunities.

"I wish James all the very best for the future and thank him for his substantial contribution to AMP."