AMP’s De Ferrari resigns CEO role
Francesco De Ferrari, chief executive of AMP Limited, is to resign today following discussions with the board.
According to a report from the Australian Financial Review (AFR), Scott Hartley, would act as group chief executive until a replacement was found. Hartley was previously appointed as chief executive of Australia last December.
De Ferrari joined AMP in December 2018 after 17 years at Credit Suisse and replaced Mike Wilkins who held the role in an interim capacity.
Last year, Alex Wade departed as chief executive of Australia while board members David Murray and John Fraser also departed. Meanwhile, Boe Pahari was appointed as chief executive of AMP Capital but was forced to step down from the role after allegations of sexual harassment, although he remained at the company.
A spokesperson for AMP confirmed the comments in the AFR.
Shares in AMP had entered into a trading halt pending a further announcement and when that announcement came at 6.30pm Sydney time, it amounted to one line stating: "AMP notes the media reports today and confirms Francesco De Ferrari remains as chief executive of the group".
AUTHOR
Laura Dew
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
