AMP revamps executive roles

AMP has today announced three new executive roles and a flatter structure as part of the ongoing streamlining of the business following the sale of AMP Capital.

The wealth manager will elevate the leadership of its platforms and advice businesses with two new roles on its executive committee.

A third new executive committee role of group executive super and investments will combine responsibility for the superannuation - master trust and Investments businesses.

Edwina Maloney who leads the platforms business and Matt Lawler who leads the advice business, will join the executive committee.

While their roles remain essentially unchanged, they have new titles - group executive platforms and group executive advice, respectively.

Previously, Maloney led AMP Capital's global product function, responsible for its managed investment schemes, offshore domiciled funds and separate accounts.

Earlier she worked at Perpetual Investments as general manager, of product and business development and at Accenture as a management consultant specialising in wealth management.

For his part, Lawler joined AMP in July 2021 to lead and transform AMP's advice business.

Previous roles include lead for advice and mortgage broking businesses at MLC/NAB and chief executive of Yellow Brick Road,

Meantime, AMP is searching hard to fill the key third position of group executive, super and investments.

Interestingly, the wealth manager has not yet appointed this critical leader who will take responsibility for the superannuation-master trust and investments businesses.

Until they find the right person,Jason Sommer, currently director of transformation and investments in the wealth management business will act in the role.

Moreover, investment chief Anna Shelley and director of super and super investments Ilaine Anderson will report to this new executive.

Shelley will also have a dotted reporting line to AMP chief executive Alexis George.

The appointments follow the recent decision to remove the role of the Australian Wealth Management chief executive held by Scott Hartley.

They also follows the decision to combine the roles of chief financial officer and group executive transformation, now held by Blair Vernon.

"This elevates key businesses to the executive team, further increasing visibility and accountability for performance and cost management, while also bringing the executive committee closer to our customers and to advisers," said George.

"The new operational structure supports our focus on being a leading provider of retirement solutions and helping more Australians to meet their financial goals."

The chief executive thanked Hartley for the work he has done to reposition AMP's wealth management businesses.