AMP today confirms the previously proposed Collimate Capital Board, announced on 12 October 2021, will no longer be established. The decision reflects the outcome to sell the Collimate Capital businesses rather than progress with a demerger and separate ASX listing.

Collimate Capital Chairman designate, Patrick Snowball and Deputy Chairman designate, Andrew Fay will finish in their designate positions by 10 June 2022. The AMP Limited and Collimate Capital management teams will continue to progress the separation of the businesses in preparation for transfer to their new owners in 2H 2022.   

Current Chairman of AMP Capital, Michael Sammells, will remain a non-executive director on the AMP Limited Board following completion of the transactions.

AMP Limited Chair, Debra Hazelton commented:

“On behalf of the Board, I would like to thank Patrick and Andy for their very significant contributions over the past six months as we’ve worked through the separation of the business.

“Patrick and Andy will finish in their designate positions, reflecting that a board is no longer required for Collimate Capital given the sale of these businesses. We wish them both continued success in their future endeavours.”