AMP rings changes

AMP is making alterations to its leadership team as it prepares for major changes to the business this year.

Thursday, February 7th 2019, 11:16AM

The group is selling its life insurance business in Australia and New Zealand to Resolution Life and plans to list the NZ wealth and advice business, including KiwiSaver, on the stock exchange in an IPO.

As part of that, it has appointed Megan Beer to lead AMP Life on both sides of the Tasman through the separation and transfer to Resolution Life, which is expected the second half of this year.

On completion, Beer will join Resolution as chief executive AMP Life and head of Resolution’s Australasian region.

AMP said Beer’s appointment would help drive separation and ensure a seamless transition for customers and employees.

Post-completion, AMP will continue to benefit from Beer’s stewardship of Resolution’s businesses in Australia, in which it retains a significant minority interest.

Blair Vernon will lead AMP’s New Zealand advice and wealth operations. He will continue to lead AMP’s New Zealand wealth protection and mature operations for an interim period as they transition into the AMP Life business under Megan Beer, ahead of separation.

Craig Ryman has been appointed to the expanded role of chief operating officer. Ryman will be responsible for driving efficiency and improving AMP’s capability to execute and deliver change.

Tags: AMP Blair Vernon