Nearly four months after the merger of AXA and AMP, the group has announced a restructure of its leadership team.
AMP Financial Services Managing Director, Craig Meller, announced the new, eight division business structure, saying it will help the group utilise its two key sources of competitive advantage: customer insight and cost efficiency.
“We are creating a strong market-facing, customer focused business with quality financial advice at its heart,” Mr Meller said.
The new business structure will see Ian Campbell, previously AXA General Manager Product, lead the Wealth Protection and Mature Products division, which will be responsible for all risk and mature products. Mr Campbell will also oversee the delivery of a single, consolidated risk product within the next two years.
The operational aspect of the risk business has been combined with all other product administration into a single Operations division, which will be headed by Wendy Thorpe. Ms Thorpe was AXA’s Chief Operating Officer.
As outlined by Mr Meller in May this year, AXA’s Financial Advice Network and the AMP Financial Planning, Advice and Services teams will not change.
The remainder of the business will be structured as follows:
- Strategic Sales and Marketing, led by Adrian Emery, responsible for developing the business strategy and setting sales and growth targets
- Banking and Wealth Management Products, led by Rob Caprioli, responsible for all superannuation, retirement and investment products, including AXA’s North platform
- Ipac, led by Neil Swindell, will now also incorporate AMP Private Wealth Management
- AMP Capital Investors will remain largely unchanged
The group says the changes will intensify the company’s customer and external focus and build on the strengths of both AXA and AMP to create a stronger organisation.
The new structure becomes effective on 1 August 2011.
