AMP Capital becomes Collimate Capital
AMP Capital has announced it will rebrand as Collimate Capital to reflect the new direction following its demerger from AMP Limited.
The new business would be rebranded as Collimate when it would be listed on the Australian Securities Exchange (ASX) in the second half of this year. It said its change symbolised an ongoing progress towards demerging.
In the announcement, the firm also said that the business had progressed well in operating separately from AMP Limited and had its own executive leadership team, board and strategy, with Patrick Snowball announced as chairman designate and Andrew Fay as deputy chairman designate of the demerged business in October last year.
Prior to that, in June, 2021, Shawn Johnson joined as AMP Capital’s chief executive to lead the demerger of the business and in January, 2022, Nadine Lennie was announced as chief financial officer.
The appointment of Johnson followed the departure of Boe Pahari as AMP Capital chief executive in August 2020 after a sexual allegation.
Commenting on the new name, Johnson said that Collimate Capital, as a demerged entity, would provide a greater level of independence, stability and accountability.
“Collimate is a scientific term that means to make rays of light perfectly parallel. It is a metaphor for alignment, clarity and precision, which speaks to our vision and expertise in long-term value creation for our clients,” the company said in the announcement.
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