AMP has today announced three new executive roles and a flattened organisational structure, as part of the ongoing simplification and streamlining of its business following the AMP Capital sales.
AMP will elevate leadership of its Platforms and Advice businesses in two new roles on its executive committee. A third new executive committee role of Group Executive Super and Investments will combine responsibility for the Superannuation–Master Trust and Investments businesses.
Edwina Maloney who leads the Platforms business and Matt Lawler who leads the Advice business, will continue to perform their current roles and become part of the executive committee. Their new titles will be Group Executive Platforms and Group Executive Advice, respectively.
AMP will conduct an internal and external search to fill the third position of Group Executive, Super and Investments. Jason Sommer, currently Director – Transformation and Investments, Australian Wealth Management will act in the role until the permanent position is filled. Chief Investment Officer Anna Shelley and Director Super and Investments Ilaine Anderson will report into this new executive position. Anna Shelley will also have a dotted reporting line to CEO Alexis George for group investment activities.
The appointments follow the recent decision to remove the role of Australian Wealth Management CEO, held by Scott Hartley and to simplify the business structure. It also follows the decision to combine the roles of Chief Financial Officer and Group Executive Transformation, now held by Blair Vernon.
AMP Chief Executive, Alexis George commented:
“The AMP Capital sales have made for a much simpler AMP and these executive changes reflect that by flattening our management structure, particularly in wealth management.
“This elevates key businesses to the executive team, further increasing visibility and accountability for performance and cost management, while also bringing the executive committee closer to our customers and to advisers.
“The new operational structure supports our focus on being a leading provider of retirement solutions and helping more Australians to meet their financial goals.
“The new executives have proved themselves as high-quality leaders and I look forward to working more closely with them.
“Again I would like to thank Scott Hartley for the work he has done to reposition AMP’s wealth management businesses.”
The new appointments come into effect on 31 July 2023.
Edwina Maloney biography:
Edwina Maloney is a seasoned executive, board director, consultant, and transformation leader.
In June 2021, Edwina was appointed Director, Platforms at AMP, with end-to-end accountability for AMP’s Wealth Superannuation Fund and Wrap Platforms (c$65bn FUM) and SuperConcepts SMSFbusiness (which was sold on 30th June 2023). Edwina is responsible for leading the Platforms business which includes the Wealth Distribution division, North Operations, Product, Digital Development, Retirement Solutions and Technology teams.
Previously, Edwina led AMP Capital’s Global Product function, responsible for its Managed Investment Schemes, offshore domiciled funds and separate accounts. Before AMP, Edwina was General Manager, Product and Business Development at Perpetual Investments, and prior to this, was a management consultant with Accenture specialising in wealth management. She began her career as a lawyer with DLA Piper (then Phillips Fox).
Edwina holds a Bachelor of Laws (QUT) and a Graduate Diploma in Applied Finance & Investment (FINSIA). She also holds a number of directorships for other corporate and responsible entity boards.
Matt Lawler biography:
Matt Lawler is a highly experienced leader in financial services having held senior executive roles across financial advice, wealth management, superannuation, investments, mortgages and banking. Matt joined AMP in July 2021 to lead and transform AMP’s advice business.
Matt has extensive experience in large scale advice transformations and a deep knowledge of building and operating successful advice businesses. He has led advice and mortgage broking businesses at MLC/NAB, was CEO of Yellow Brick Road, an ASX listed business, and Executive Director at Loan Market and Wealth Market, both privately owned businesses.
Matt holds a Diploma in Financial Planning from RMIT University and a Diploma in Applied Finance and Investment from FINSIA.
