AMP has a new chief executive with Alexis George replacing Francesco De Ferrari.
The company has announced to the Australian Securities Exchange (ASX) that George is replacing De Ferrari who is retiring from the role as the company completes its portfolio review.
George joins AMP form ANZ where she has been deputy chief executive as well as group executive Wealth Australia.
De Ferrari will continue to lead AMP for an interim period to ensure a smooth handover.
AMP chair, Debra Hazelton said that De Ferrari would continue to work with the board and lead AMP’s key strategic initiatives including discussions on the proposed transaction for AMP Capital’s private markets business with Ares Management Corporation.
She said De Ferrari had led AMP through an extraordinary period responding to unprecedent external challenges.
George will be joining AMP on a salary of $1.715 million a year and a short-term incentive opportunity equivalent to 100% of salary for on-target performance and 200% at maximum.
She will also have access to a sign-on award with a face-value of $4.091 million to be delivered in AMP equity, to replace existing incentive arrangements foregone with her previous employer.