AMP board to release Pahari investigation report
The board of AMP Limited has reinforced its decision to appoint Boe Pahari to head up AMP Capital, issuing a statement to the Australian Securities Exchange (ASX) today saying that a 2017 employment complaint made against him had been taken seriously.
In doing so, it has said it is willing to release the Queen’s Counsel investigation report around the employment complaint and said it had contacted the complainant’s solicitors to seek her consent to release the report.
It said that Pahari had provided his consent.
The announcement said that the report would be redacted to remove names, initials and the job titles of any party, other than the complainant, Julia Szlakowski and Pahari.
It said that the current AMP board was advised of the matter prior to Pahari’s appointment as AMP Capital chief executive and another review was undertaken and that following that review all Board members were satisfied with the thoroughness of the investigation and the process that followed and that the consequences applied to Pahari were both significant and appropriate.
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.