AMP has announced a new chief executive with Alexis George to retire at the end of March.
George has led AMP since August 2021 when she took over as chief executive from Francesco De Ferrari. She joined from big four bank ANZ where she was deputy chief executive and group executive for wealth Australia.
She will remain CEO until 30 March and be available to assist with handover and ongoing support.
In her place, AMP said current chief financial officer Blair Vernon will step up to the CEO role, having conducted a top-tier executive search. Vernon commenced in the role of AMP group CFO in July 2023. From May 2022 until July 2023, he served as group executive transformation for AMP and group executive for the New Zealand business.
He also has experience in the chief executive position as from August 2020 to January 2021, he served as acting CEO for AMP Australia, where he was responsible for AMP’s wealth management and banking divisions with a focus on strengthening customer-led outcomes.
A new search will now be undertaken to recruit a CFO.
In an ASX statement, AMP said: “This leadership change marks a new chapter for AMP, building on the strong foundation established under George’s tenure.”
Commenting on her decision to exit and retire from executive roles, George said: “AMP has undertaken significant transformation to become a simpler, customer-focused, and growth oriented organisation. I am proud of our achievements over the past five years, particularly helping our customers retire with confidence. While it was not an easy decision to retire from executive roles, I am confident that AMP is well positioned for future success. Leading AMP, a company integral to Australia and New Zealand, has been an honour. I wish Blair and AMP continued success and will remain a strong supporter.”
AMP chair, Mike Hirst, said: “On behalf of the board, I thank Alexis for her dedicated service and leadership at AMP. Alexis has guided AMP through a significant transformation that has streamlined the organisation and focused each business on its strongest growth opportunities.
“She stabilised the business and oversaw the successful sale of AMP Capital and the advice business whilst building a customer focused culture.”
He praised Vernon’s experience in “tightening financial management, steering our capital return program and successfully executing both the AMP Capital separation and the AMP Advice sale and partnership” during his tenure as CFO.
