AMP CEO reflects on firm’s progress
Reflecting on 12 months as chief executive, AMP chief executive, Alexis George, believes the firm has taken “significant progress” to improve.
George joined AMP as chief executive last August and had overseen changes such as the separation of the AMP Capital business and the sale of the domestic real estate and infrastructure business Collimate Capital to Dexus.
“We really should be proud of what we’ve achieved and it hasn’t always been easy. But we’re doing the right thing by all our stakeholders, our people, customers, shareholders and community,” she said.
“When I joined 12 months ago, I said my priorities were transforming our business, rebuilding our brand so that we could be proud of it. continuing the journey on purpose and simplification, growing our banking platforms and supporting digital data to help our customers and of course, respecting risk.”
Reflecting on the sale of the firm’s AMP Capital business, which was due to complete later this year, George said it “marked a transformational change” for the company and the firm was also focusing on growing its platform business.
However, she acknowledged it had been a difficult time for staff in the two businesses.
“I understand that it’s created really difficult times for people and I want to pass my empathy to them and wish I had got to know them in different circumstances.”
Earlier this year, George reflected on the firm’s response to addressing the mental health concerns of its adviser network following its controversial changes to its Buyer of Last Resort arrangements in 2019.
AUTHOR
Laura Dew
Recommended for you
The corporate regulator has cancelled the AFSL of a Perth advice firm, with the firm having previously seen its licence temporarily suspended in 2020.
Having proposed changes earlier this year, ASIC has clarified how it will support licensees with additional relief under the reportable situations regime.
AMP has partnered with BlackRock and research house Lonsec to provide a model portfolio capability on its North platform that offers “portfolio customisation at scale” to advice practices of all sizes.
Money Management rounds up actions ASIC took against advice individuals in the first half for FY25 from exam falsifications to dishonest conduct.
