AMP has signalled former Cbus head David Atkin will take the role of deputy chief executive for its asset management arm.
Mr Atkin, previously the chief of Cbus Super for 12 years, will assume operational leadership of AMP Capital in an interim capacity until June, while the investment business continues its search for a permanent CEO.
He will be reporting to AMP CEO Francesco De Ferrari, who will continue in a dual role as both the group’s chief and interim AMP Capital CEO.
Mr De Ferrari has been tasked with continuing the strategic transformation of the wealth giant and ensuring focus on its ongoing portfolio review.
“David is a highly regarded leader within our industry and I’m pleased we have been able to appoint an executive of his calibre into this interim role to help drive our transformation and deliver our strategy,” the AMP chief said.
“Having led three major superannuation funds in the Australian market, David brings a deep knowledge and understanding of clients and their expectations.”
He added Mr Atkin will bring his experience of “reshaping organisational culture, including expertise in building diverse and inclusive leadership”.
The last AMP Capital chief, Boe Pahari, was demoted to the investment arm’s infrastructure equity business, after sexual harassment allegations against him were aired to the public.
The scandal also resulted in the resignations of AMP chair David Murray and AMP Capital chair John Fraser.
Mr Atkin’s appointment is effective from Monday.
“I look forward to supporting Francesco deliver AMP Capital’s transformation strategy and working with the highly capable team to take the organisation forward,” he commented.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].