AMP appoints private market board leaders

AMP Limited has appointed Patrick Snowball as chair designate and Andrew Fay as deputy chair designate of the board of AMP Capital’s private markets business.

Effective 1 November, 2021, both would work with AMP Capital chief executive Shawn Johnson and non-executive director Michael Sammells to continue progress of the operational separation and demerger of the private markets business which the firm said remained on track to be completed in 1H22.

Both appointees had broad international experience of financial services and investment management, which included the real estate and infrastructure sectors.

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Snowball was based in London and had a 30-year career in financial services in the UK and Australia, and led the transformation of Suncorp Group as its group CEO from 2009 to 2015.

Since Suncorp, he served as chair of Sabre Insurance Group and IntegraFin Holdings, leading both to public offerings on the London Stock Exchange, and was currently chair of UK-based specialist lender Provident Financial.

Fay was based in Sydney and had been CEO, chief investment officer (CIO) and chair at different times of Deutsche Asset Management in Australia, as well as Asia-Pacific regional CIO.

He was currently a non-executive director and chair of the remuneration and nomination committee of Pendal, and would retire from the role in December 2021.

Fay was also a non-executive director of Spark Infrastructure Group which he would step down from following the completion of a scheme of arrangement to take over the business.

He also served as deputy chair and as a non-executive director of Cromwell Property Group, a non-executive director of Gateway Lifestyle, and alternate director for Dexus Property Group.

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