Departure

AMP Bank CEO to step down amidst restructure

Executive Move

Sally+bruce

AMP Limited has announced that it will combine its banking and Australian wealth management businesses into one organisation to be named AMP Australia. The restructure follows current AMP Bank CEO Sally Bruce's decision to step down, effective 1 November 2019, AMP said.

Bruce said of her decision: "I am extremely proud of my time with AMP and what we have delivered at AMP Bank since I joined in 2015. Now is the right time for me to step down and to join my family, who relocated back to Melbourne earlier this year."

She will be replaced by Rod Finch, currently managing director, wealth products and platforms, who has been appointed managing director, AMP Bank. Finch will report to Alex Wade, currently CEO of Australian wealth management, who has been appointed to lead AMP Australia.

AMP chief executive Francesco De Ferrari said of the changes: "Closer integration of the businesses was part of our long-term plan, and with Sally’s decision to step down we have been able to accelerate our internal re-organisation."

He added: “Sally has been an outstanding leader for AMP Bank, delivering double-digit earnings growth, through consistent growth in revenue and client numbers, as well as creating a strong and inclusive culture within the bank ... I want to thank Sally for her contribution, and particularly for her support to me over the past ten months.”

Departure

November 2019

Chief Executive Officer - AMP Bank

AMP Australia

News reports on this move

10/10/2019
Financial Review
10/10/2019
Money Management
10/10/2019
Financial Standard