The financial services giant has today announced the appointment of its new advice boss to replace Jack Regan.
Alex Wade has been appointed to AMP’s group leadership team as group executive, advice, effective 7 January 2019.
Mr Wade will report to AMP chief executive Francesco De Ferrari and will lead the continuing transformation of AMP’s advice business.
Mr Wade will succeed AMP group executive, advice and New Zealand, Jack Regan, who will retire from AMP after nearly 20 years.
David Akers, who has been AMP’s acting group executive, advice, while Mr Regan has been on extended leave, will work with Mr Wade to transition responsibilities and will return to the advice leadership team. Blair Vernon will continue as managing director of New Zealand.
Most recently, Mr Wade served as the head of developed and emerging Asia for Credit Suisse Private Banking. He has been with Credit Suisse for 12 years, holding other roles such as chief of staff for Asia-Pacific and head of private banking Australia. He has significant experience in financial services in Australia, Singapore and Hong Kong.
“Alex is a talented leader and strategic thinker, who will bring valued experience and relationships to AMP’s advice business. The financial advice industry in Australia is in the process of renewal, and AMP and Alex will play a prominent role in driving this change. We firmly believe that financial advice is essential for helping people manage their finances, and plan for retirement,” Mr De Ferrari said.
“I offer the warmest thanks to Jack Regan for his commitment to our advisers, customers and employees over his long service at AMP.
“After 10 years leading AMP New Zealand, Jack took on the group executive, advice and New Zealand, role in 2017, bringing his deep understanding of the advice industry to improve the governance and controls of the business. Jack is greatly respected across the advice industry and retires with the best wishes of everyone at AMP, including the many advisers across our network.
“I would also like to thank David Akers for taking on the role of acting group executive, advice, this year.”
Mr Wade noted that although the industry and AMP have faced scrutiny this year, AMP advisers “have a long history of helping and supporting people across Australia plan their financial lives and achieve their personal goals”.
“The industry is changing for the better and it is committed to reaching new, higher standards of professionalism. AMP has been proactively transforming its business and developing new systems and technology to improve the advice process and strengthen governance, compliance and controls – all which results in an enhanced advice experience for customers,” he said.
“I am looking forward to meeting and getting to know our advisers, and working with Francesco to drive further change.”
Fellow Credit Suisse alumni include new AMP CEO Francesco De Farrari, who began his first week in the top job on Monday, and John O’Sullivan, the former chair of Credit Suisse Australia.
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