AMP Capital has announced it will appoint three new non-executive directors to its responsible entity (RE) and trustee boards.
Former Suncorp banking and wealth chief executive John Nesbitt, former Investa Office Fund portfolio manager Ming Long, and former Herbert Smith Freehills partner Peter Rowe have been appointed to the AMP Capital Funds Management Limited (AMPCFM) and AMP Investment Services Pty Limited (AMPIS) boards.
Mr Nesbitt, Ms Long and Mr Rowe will serve alongside AMP Capital chief executive Adam Tindall and AMP Capital chief financial officer and chief operating officer Margaret Payn.
As a result of the appointments, the boards of both AMP Capital entities will now comprise a majority of independent, non-executive directors.
Mr Tindall said, “I’m delighted to welcome John Nesbitt, Ming Long and Peter Rowe to our two AMP Capital RE and trustee boards. All three have a wealth of industry experience and will enhance the governance of our domestic investment offerings while allowing for increased independent oversight.
"AMP Capital is committed to operating to the highest standards of corporate governance to best serve and protect our clients and investors. While we have always complied with the regulatory requirements in relation to independent oversight, we have decided to go one step further and increase the independence of these boards.
"This is a positive step for our clients, investors and AMP Capital, ensuring strong investment management and safeguarding our culture of prioritising strong governance."
The appointments are effective 28 July 2017.
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