AMP outlines flatter executive structure
AMP Limited has further changed its executive structure around platforms and advice.
The company announced it was creating two new roles covering platforms and advice on its executive committee with a third new executive role covering Super and Investments.
It said Edwina Maloney and Matt Lawler would continue in their roles with respect to platforms and advice on the executive committee and that a search would be undertaken for the third position covering Super and Investments.
The company’s announcement follows its ASX announcement earlier this week confirming that the advice, platforms and superannuation businesses would be reported as largely stand-alone entities.
“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,” AMP chief executive, Alexis George said.
“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.
Would the last person out turn off the lights, and lock the door
I wonder if any one of the current crop of life insurer CEOs have picked up any tips?
The evidence is that most of them still think LIF was a great idea, despite adviser warnings and now, all the evidence to the contrary.
And now they have the arrogance to be demanding to be able to provide life risk advice direct to consumers.