AMP names CEO for combined banking and wealth management business

Alex Wade
AMP Financial Planning Pty Limited - Chief Executive Officer
Date: November 2019
Position: Chief Executive Officer

AMP Limited has announced it will combine its banking and Australian wealth management businesses into one organisation to be named AMP Australia. Leading the new organisation will be current CEO of Australian wealth management, Alex Wade.

Wade joined AMP in January 2019 as group executive advice before being appointed to the expanded role of head of wealth management the following month. Previously, he spent 12 years with Credit Suisse, most recently as head of developed and emerging Asia for Credit Suisse Private Banking and, before that, as chief of staff for Asia Pacific and head of private banking Australia.

In other executive changes, Rod Finch, currently managing director, wealth products and platforms, has been appointed as managing director, AMP Bank. Reporting to Wade, Finch will replace current AMP Bank CEO Sally Bruce who will step down on 1 November 2019.

AMP chief executive Francesco De Ferrari said of the changes: "Bringing together our bank and wealth management teams in Australia will drive a more integrated organisation better able to pursue the significant opportunity we see in providing more holistic wealth services for our clients."

He added: "Closer integration of the businesses was part of our long-term plan, and with Sally's decision to step down we have been able to accelerate our internal re-organisation."