AMP Financial Services moving staff to Auckland

UPDATED: Changes at AMP Financial Services continue with another senior manager leaving and a shift to Auckland.

Tuesday, July 22nd 2008, 5:57AM

by David Chaplin

An AMP spokesperson confirmed Robyn Elston, recently promoted to the new role of head of AMPFS managing director's office, has left the organisation recently to take up another job.

There has been speculation that David Chote, general manager distribution, is also leaving. However, an AMP spokesperson said he is "absolutely committed to AMP."

"It's absolutely not the case [I've resigned]... I'm still gainfully employed at AMP and enjoying my work," Chote said.

The AMP spokesperson could not confirm whether Chote would move up to Auckland.

"That's not been decided yet... there will still be a number of people in the Wellington office," she said. As Good Returns reported last month, four senior members of the AMPFS management team have left the group since the start of this year including: Simon Manning, head of distribution operations; Roger Perry, head of savings and investment; Alistair Smith, head of finance/legal, and; Ian Miller, head of workplace savings.

The latest news comes as the Dominion Post reported a move by AMPFS to downsize its Wellington office with about 75 staff expected to relocate to Auckland by March next year.

According to the Dominion Post report, AMPFS was counting on about 20% of its Wellington workforce shifting to Auckland.

"Only about 5% of those I know want to [shift to Auckland]," the paper quoted an AMPFS employee as saying.

Only AMPFS staff were affected by the announcement with the wider group's funds management arm, AMP Capital Investors, to remain headquartered in Wellington.

In June an AMP spokesperson told Good Returns the staff changes were largely the result of a "restructure" initiated by AMPFS chief, Jack Regan.

"The restructure of the senior leadership team has finished," the spokesperson said at the time. "It's been going on for a long time and there has been a very smooth transition."

Regan headed the AMP-owned Hillross financial planning arm in Australia before assuming the AMPFS deputy chief role in February 2007. He replaced Greg Camm as head of AMPFS in New Zealand late last year.

Approximately 370 financial advisers are affiliated with the AMP brand, according to the 2007 ASSET magazine financial planning group survey.

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