In a statement issued yesterday, AMP announced a number of key leadership appointments across the insurance, superannuation and advice and banking businesses, following AMP chief executive Craig Meller’s announcement of his executive line-up in October.
Among several changes, the banking, corporate super and financial advice arms of the business will be streamlined, bringing together “the key channels through which customers come to AMP”.
Under the new structure, the management of AMP’s five financial planning dealer groups will come under the auspices of three distinct management teams.
AMP Financial Planning MD Michael Guggenheimer will take on additional responsibility for Hillross, under a re-shuffle of the existing structure.
In addition, Tim Steele, managing director of ipac, will take on additional responsibility for Genesys, while Kevin Stone will stay on as managing director of Charter.
Former Hillross MD Hugh Humphrey has been appointed director of channel strategy and transformation, responsible for “for aligning business strategies with customer expectations across AMP’s channels”.
The move initiates a “single leadership team responsible for the primary way customers join AMP”, head of advice and banking Rob Caprioli said.
However, an AMP spokesperson told InvestorDaily the changes will not dilute the cultural differences or autonomy of the various dealer channels.
“Today’s announcement is part of a number of changes to simplify the management of our advice business, but on a day to day level it will have minimal impact on our advice network,” the spokesperson said.
“Financial advice is at the very heart of what we do and AMP has a strong value proposition for planners and we’ll continue to innovate and invest in initiatives to ensure we continue to grow. We will continue to support multiple brands and their respective value propositions in the market, and there will be very little, if any, change on a day to day basis for our licensee channels.”
In other changes announced yesterday, former Commonwealth Bank general manager, retail customers and transformation, Patricia Montague has been appointed director of superannuation, overseeing super, retirement and platform investment products.
Former Actuaries Institute chief executive Melinda Howes, who joined AMP in November 2013, has been named director of product strategy and services, while Megan Beer – who will leave NAB this month – will take up the role of director of insurance.
