AMP refreshes executive structure for platforms and advice

amp financial advice platforms amp north Matt Lawler Edwina Maloney

21 July 2023
| By Laura Dew |
expand image

AMP has announced an executive reshuffle following the sale of the AMP Capital businesses. 

This will see Edwina Maloney and Matt Lawler join the firm’s executive committee as group executive of platforms and group executive of advice, their new job titles.

Maloney was appointed director of platforms in June 2021, which includes wealth distribution, north operations, product, digital development and retirement solutions. Lawler joined in July 2021 with the responsibility to lead and transform AMP’s advice business. 

A third role of group executive of superannuation and investments will combine responsibilities for the superannuation master trust and investment business. AMP said it will conduct an internal and external search to fill the post.

Jason Sommer, who is currently the director of transformation and investments, Australian wealth management, will hold the role in the interim. 

This follows the removal of the Australian wealth management CEO role held by Scott Hartley, announced earlier this year, and the decision to combine the roles of chief financial officer and group executive of transformation, now held by Blair Vernon.

AMP chief executive, Alexis George, said: “The AMP Capital sales have made for a much simpler AMP and these executive changes reflect that by flattening our management structure, particularly in wealth management.

“This elevates key businesses to the executive team, further increasing visibility and accountability for performance and cost management, while also bringing the executive committee closer to our customers and to advisers.

“The new operational structure supports our focus on being a leading provider of retirement solutions and helping more Australians to meet their financial goals.”

The new appointments come into effect on 31 July 2023.

The firm has also announced a change to how it reports its financial results with the platform, master trust and advice businesses all reporting individually rather than as Australian wealth management. 

Self-managed superannuation fund (SMSF) administration and software firm SuperConcepts, which was sold to private equity firm Pemba Capital Partners last month, will be reported under ‘discontinued operations’. 

In an ASX statement, it said: “The changes align AMP’s reporting and disclosure materials to its more focused business and streamlined operating model, in line with recent announcements”.


Read more about:


Add new comment

The content of this field is kept private and will not be shown publicly.

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry



Peter Swan

In many cases, if not most, it is nearly impossible to verify an individual's entire experience as stated in their decla...

20 hours ago

SO NOW YOU ARE NOT ONLY A FUND MANAGER BUT A MIND READER AS WELL ? (Where it should have considered the orders were man...

23 hours ago
Nathan Baker

That's great. If any loss had occurred and clients eventually sue, that will probably occur after the PI has lapsed. Adv...

1 day ago

ASIC has cancelled the AFS licence of a Sydney wealth firm, the fifth Sydney firm to see a cancellation since the start of the year....

2 weeks ago

A former financial adviser has been banned by ASIC from providing financial services for inappropriate advice, among multiple breaches....

4 weeks 1 day ago

More than 20 winners from the funds management industry have been crowned at this year’s awards....

1 week 1 day ago