AMP customer chief out as new exec structure confirmed

ASX-listed financial services company's new leadership structure announced just days after the Australian Royal Commission into the Insurance, Superannuation and Financial Services Industry was tabled

AMP chief customer officer, Paul Sainsbury, will leave the financial services giant following a new leadership structure announced just days after the release of the Royal Commission into Australia’s Banking, Superannuation and Financial Services Industry.  

The ASX-listed group confirmed Sainsbury’s departure after promoting group executive for advice, Alex Wade, to an expanded portfolio bringing together AMP’s advice, wealth management, product and customer solutions teams. Wade joined AMP last month from Credit Suisse, replacing Jack Regan, who retired after a 20-year stint with the group.

The company said Wade is tasked with redefining AMP’s wealth management model to focus on strengthening client outcomes and restoring moment. His new-look role comes just days after the release of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, which found widespread and often illegal misconduct across the sector.

Sainsbury, who has held the title of group executive, wealth solutions and customer, will work with Wade for an interim period to ensure the business transition. The timeframe has not been confirmed.

Sainsbury joined AMP in 2007, becoming its first group chief customer officer in April 2013 with a remit that encompassed group marketing. His role was extended to also include group executive of wealth solutions in early 2017.

A company spokesperson confirmed AMP’s director of strategic marketing and customer experience, Lara Bourguignon, remains in her role. Bourguignon took up the role last March after former marketing leader, Rod Finch, was promoted to director of superannuation, retirement and investments. She has been reporting directly to Sainsbury.

Also at the executive level, AMP has promoted CIO, Craig Ryman, to chief operating officer, with responsibility for driving efficiency and improving AMP’s capability to execute and deliver change.

In addition, Megan Beer has been given the job of leading AMP Life through its separation and transfer to Resolution Life, a move expected by mid-2019. She then becomes CEO of AMP Life and head of Resolution’s Australasian region.

“2019 will be a year of significant transition for AMP, and today’s appointments will drive change while retaining experience in our leadership team,” said AMP CEO, Francesco De Ferrari. “In Australian wealth management, I am confident that under Alex Wade’s leadership, we will be able to reinvent our wealth management business to better compete in the new regulatory environment.

“I’d like to thank Paul Sainsbury for his ongoing support in establishing our new structure and his years of outstanding service to the group.”
 

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu    

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

More Videos

looking for the best quality of SMM Panel ( Social Media Marketing Panel ) is a website where People Buy Social Media Services Such as Fa...

Kavin kyzal

How to manage social media during Covid-19

Read more

Thank you for sharing your knowledge. Definitely bookmarked for future reading! Check this website https://a2designlab.com/ with lots of ...

Pierce Fabreverg

Study: Gen Z are huge opportunity for brands

Read more

Thanks for sharing. You might want to check this website https://lagimcardgame.com/. An up and coming strategic card game wherein the cha...

Pierce Fabreverg

Board games distributor partners with Deliveroo in business strategy pivot

Read more

Such an important campaign, dyslexia certainly need more awareness. Amazing to see the work Code Read is doing. On the same note we are a...

Hugo

New campaign aims to build understanding around scope and impact of dyslexia

Read more

Great Job on this article! It demonstrates how much creativity, strategy and effort actually goes to produce such unique logo and brandin...

Pierce Fabreverg

Does your brand need a personality review? - Brand vision - CMO Australia

Read more

Blog Posts

A few behavioural economics lesson to get your brand on top of the travel list

Understanding the core principles of Behavioural Economics will give players in the travel industry a major competitive advantage when restrictions lift and travellers begin to book again. And there are a few insights in here for the rest of the marketing community, too.

Dan Monheit

Co-founder, Hardhat

Predicting the Future: Marketing science or marketing myth?

Unicorns, the Sunken City of Atlantis, Zeus: They are very famous. So famous in fact, that we often think twice about whether they are real or not. Sometimes if we talk about something widely enough, and for long enough, even the strangest fiction can seem like fact. But ultimately it is still fiction - stories we make up and tell ourselves over and over until we believe.

Kathy Benson

Chief client officer, Ipsos

Winning means losing in the game of customer retention

At a time of uncertainty and economic hardship, customer retention takes on much greater importance. CX Lavender’s Linda O’Grady examines the big grey area between ‘all’ and ‘best’ customers when deciding who is worth fighting for and how.

Linda O'Grady

Data Strategy Partner & Business Partner, CX Lavender

Sign in