This is not the first time AMP Capital has seen staff turnover within the last 12 months.
In April 2014, a number of key staff left the global listed real estate team to join a competitor.
At the time, SQM Research initially downgraded its rating of AMP Capital’s Global Property Fund before restoring it once the staff were replaced.
Yesterday’s changes will see the global infrastructure equity team turn its focus to products and services in Europe and Australia rather than on specific regions, according to a statement by AMP Capital.
As a result of this, current head of infrastructure for Australia and New Zealand Paul Foster will be leaving the business.
Along with this, the role of head of infrastructure for Europe and the Americas, which was left vacant after Boe Pahari was promoted to the role of global head of infrastructure equity, will not be filled.
AMP Capital also said its separately managed accounts and origination functions will be merged.
“Michael Bessell, who is currently global head of origination, will take on an expanded role as head of separately managed accounts and origination, Australia and New Zealand,” a statement from AMP Capital said.
Included in the restructure, AMP Capital said the funds management team will also be combined to include investment focus on utilities, transport and airports.
“Michael Cummings, currently AMP Capital infrastructure equity fund manager, has been promoted to lead the team as head of Australia and New Zealand funds,” the statement said.
AMP Capital added that the social infrastructure and aged care divisions will also be combined and headed up by Julie-Anne Mizzi.
In light of these changes, head of customised accounts in infrastructure Chris Wade and head of listed debt John Mitchell will also leave the business.
