AMP Capital chief investment officer for global equities and fixed income Mark Beardow will leave the business as group CEO Adam Tindall looks to take “direct responsibility” for the asset classes.
To fill the gap created by Mr Beardow’s departure, Sydney-based AMP Capital head of global fixed income Simon Warner and London-based global head of equities David Allen will be elevated to the CIO level for their respective areas.
Both men will sit on the AMP Capital leadership team and report directly to Mr Tindall.
“I have committed to taking more direct responsibility for global equities and fixed income, both of which are very important to our business,” Mr Tindall said.
Separately, AMP Capital director of Australia and New Zealand Craig Keary will become AMP Capital director for Asia-Pacific, relocating from Sydney to Asia in the coming months.
Current AMP Capital director for Asia Anthony Fasso will return to Melbourne from Hong Kong where he will focus on his role as global head of portfolio strategy.
Mr Fasso has “expressed a desire to return home to Australia” after 23 years in the region, including seven with AMP Capital, according to the company.
AMP Capital was the standout division in an otherwise lacklustre 2016 result for AMP, which was reflected in a $1.27 million cash bonus for Mr Tindall while other AMP group executives received no short-term incentives.
Read more:
Insync adds portfolio manager to team
ASIC cancels Aquaint Capital’s AFSL
IPO returns subdued but healthy
FSC makes new board appointment
Northern Trust renews Commonwealth Super contract
