AMP has appointed current chief financial officer Blair Vernon (pictured) as its new group chief executive officer, following an internal and external search led by a top-tier executive firm.
Current CEO Alexis George will retire from executive roles effective 30 March after a distinguished financial services career.
George has led AMP since August 2021, guiding the group through “a period of significant transformation and growth” and overseeing the successful sale of AMP Capital and the Advice business.
The move caps George’s post–royal commission repair job and positions Vernon as a continuity pick to carry AMP’s growth strategy forward.
In a media release, AMP chair Mike Hirst thanked George for her “dedicated service and leadership at AMP,” saying she had “stabilised the business” and “built a customer focused culture.”
He said her work “will underpin the next phase of growth” by leaving AMP with “a strong executive team” and a more focused organisation.
Vernon, AMP’s CFO since July 2023, brings more than 30 years’ experience across Australian and New Zealand financial services, including roles as CEO/managing director of New Zealand Wealth Management, group executive transformation, and acting CEO for AMP Australia.
Hirst said that after a rigorous search, the board was “unequivocal” that Vernon had “the right breadth of experience and capability to lead AMP in its next phase of growth as CEO,” highlighting his role in tightening financial management, steering the capital return program, and executing both the AMP Capital separation and AMP Advice sale.
George said AMP has become “a simpler, customer-focused, and growth-oriented organisation,” adding: “While it was not an easy decision to retire from executive roles, I am confident that AMP is well positioned for future success. Leading AMP, a company integral to Australia and New Zealand, has been an honour. I wish Blair and AMP continued success and will remain a strong supporter.”
“It’s a privilege to take on the leadership of AMP, a company with a proud legacy of serving the financial needs of Australians and New Zealanders,” Vernon said. “AMP is delivering against its strategy, and I look forward to continuing to work with my colleagues in executing our strategic ambitions and delivering positive outcomes to customers, shareholders, communities and colleagues.
“I want to thank Alexis for her incredible contribution to AMP and all its stakeholders, and for her support over so many years. I wish her well for the future and look forward to continuing to work with her during our transition.”
George will remain CEO until 30 March and then be available to assist with handover and ongoing support, with all incentives treated in line with her existing contract and original offer terms.
AMP will now undertake a process to appoint a new chief financial officer.
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