AMP Limited has announced the creation of three new executive positions as part of a “flattened” organisational structure as it continues to simplify its business.
AMP confirmed in a statement on Thursday that Edwina Maloney, who leads its platforms business, and Matt Lawler, who leads the advice business, will continue to perform their current roles in addition to their appointment to the executive committee – their new titles being group executive platforms and group executive advice, respectively.
Ms Malone was appointed to director at AMP in 2021 and has had end-to-end accountability for AMP’s Wealth Superannuation Fund and Wrap Platforms, in addition to SuperConcepts, which was sold late last month.
Meanwhile, Mr Lawler joined AMP in July 2021 to lead its advice business and has previously held senior executive roles across financial advice, wealth management, superannuation, investments, mortgages, and banking.
AMP added it will conduct an internal and external search to fill the third position of group executive, super and investments, which will combine responsibility for the superannuation-master trust and investments businesses.
In the meantime, Jason Sommer, current director of transformation and investments, will act within the role until a replacement is found.
Anna Shelley, chief investment officer, and Ilaine Anderson, director, super and investments, will report to this new executive position, according to AMP.
The appointments follow a number of recent moves by the company, including the sale of its domestic infrastructure equity and real estate business to Dexus Funds Management last year, marking its official exit from asset management with the offloading of AMP Capital.
AMP also made the decision in May to dissolve its wealth management arm and combine the roles of chief financial officer and group executive transformation.
Speaking on the restructure, AMP chief executive Alexis George said these changes have made for a much simpler AMP, with the executive restructure reflecting this increasing simplicity.
“The new operational structure supports our focus on being a leading provider of retirement solutions and helping more Australians to meet their financial goals,” Ms George said.
“The new executives have proved themselves as high-quality leaders and I look forward to working more closely with them,” she concluded.
