Massive reshuffle at AMP
AMPhas reshuffled its senior management team following the departure of chief financial officer Marc de Cure, who leaves the company in a few months after a brief transition period.
The reshuffle has sparked concern that AMP, which suffered a 40 per cent drop in profits in 2001, will struggle to deliver a stronger performance this year.
Chief executive officer Paul Batchelor says the finance division would continue to perform following de Cure’s departure, though a replacement is still being sought.
“I have great confidence in the strength of our finance function. AMP’s accounting practices are both vigorous and conservative,” he says.
Andrew Mohl has been promoted to a new role as chief operating officer, financial services. He previously headed up AMP Financial Services, and Craig Dunn, currently director of the office of the chief executive, steps in to replace him in this role. There are no immediate plans to replace Dunn in his current role.
At AMP Banking, Craig Meller stays on as managing director, reporting to Mohl. As a result of the restructuring, the division will also have geographic reporting lines to Dunn, and managing director of UK financial services Tom Fraser.
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