AMP Australia chief executive, Alex Wade has resigned and is stepping down from his role immediately.
AMP confirmed his resignation stating that the company had accepted his resignation and that he would be leaving the business immediately.
It said that the CEO of New Zealand Wealth Management, Blair Vernon had been appointed acting CEO of AMP Australia while a process was conducted to find a permanent replacement for Wade.
Commenting on the change, AMP chief executive, Francesco De Ferrari said the company had a strong team and had been transforming the business.
“I’m pleased we are able to call on an experienced executive in Blair Vernon to lead this team and continue to drive our strategy forward.”