AMP Capital appoints CEO

11 June 2021
| By Laura Dew |
image
image
expand image

AMP has appointed former State Street Global Advisors (SSGA) executive Shawn Johnson as chief executive of AMP Capital. 

Johnson previously worked as senior managing director and chairman of the investment committee at SSGA for almost a decade. In the role, he had global oversight and responsibility for over 450 investment strategies and US$2.1 trillion in client assets. He left the firm in 2013 and had since been running his own alternative investment business including a global macro hedge fund.

At AMP Capital, he would lead the firm’s international growth strategy and the proposed de-merger of the private markets business which was expected to complete in the first half of 2022.

He would be scheduled to start on 28 June, based in Sydney, while David Atkin, deputy AMP Capital chief executive, would continue in his role until 31 July to facilitate a smooth handover.

The appointment followed the departure of Boe Pahari as AMP Capital chief executive last August after a sexual harassment allegation and the role had been filled by Francesco De Ferrari in the interim.

AMP chair, Debra Hazelton, said: "Shawn’s extensive experience and knowledge of global investment management, particularly private markets, makes him an exceptional leader for AMP Capital.

"His experience as a leader in one of the world’s largest asset management firms, State Street Global Advisors, where he played a key role in markedly growing the business and navigating the global financial crisis, will be invaluable."

Johnson said: "AMP Capital is a globally-respected investment manager, and I’m excited by the significant potential for international growth but also in Australia. I’m confident of its underlying strength and the depth of its investment, distribution, and operational talent. Our focus will be to harness these strengths as we set up as a new, independent organisation following separation from AMP.

"It’s an exciting challenge to which I believe I can bring my experience, passion and energy for growing businesses and leading a highly skilled organisation. I look forward to working alongside our talented teams, meeting our key clients, and moving our business forward.”

Meanwhile, Alexis George would be scheduled to start her role as chief executive of AMP on 2 August, the firm said. Chief financial officer, James Georgeson, would hold the role in the interim period between De Ferrari leaving on 30 June.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago