AMP board member, AMP Capital chair resigns

AMP Capital chair John Fraser has resigned his roles at both AMP Limited and AMP Capital.

The organisation says the move comes following "feedback expressed by some major shareholders regarding the appointment of [Boe] Pahari as AMP Capital CEO on 1 July 2020."

Pahari has been removed as CEO and returned to his previous role in the business. AMP Limited chair David Murray has also resigned.

Fraser joined the board in September 2018. In his executive career, Fraser held the top job at UBS Global Asset Management and spent two decades as deputy secretary at the Australian Treasury.

Debra Hazelton has been appointed the new chair for AMP Limited.