Chair named for AMP Capital RE and Trustee boards

AMP Capital has announced that John Nesbitt will join its responsible entity (RE) and trustee boards as chair, effective 28 July 2017.

Nesbitt has 40 years' experience across a number of sectors including investment management, banking, insurance, property and construction. Most recently, he was CEO at Suncorp Banking & Wealth, having previously held the position of group CFO for Suncorp Group for a number of years. Prior to Suncorp, he led the private wealth division at Perpetual after serving as group CFO for Perpetual for four years. He was also previously chair of the Perpetual Superannuation board.

At AMP Capital, Nesbitt will join the the AMP Capital Funds Management Limited (AMPCFM) and AMP Investment Services Pty Limited (AMPIS) boards alongside fellow new appointees, former Herbert Smith Freehills partner, Peter Rowe, and former Investa Office Fund portfolio manager, Ming Long. They will join executive directors, Adam Tindall, AMP Capital CEO, and Margaret Payn, AMP Capital CFO and COO.

Commenting on the appointments, Tindall said he was delighted to welcome Long, Rowe and Nesbitt to the boards.

"All three have a wealth of industry experience and will enhance the governance of our domestic investment offerings while allowing for increased independent oversight."

Long, Rowe and Nesbitt have also been appointed as members of the AMPCFM and AMPIS audit and risk committees and will serve as the three external members of the reconstituted Managed Investment Schemes Compliance Committee for AMP Capital's other REs, ipac Asset Management Limited and National Mutual Funds Management Limited.