AMP Limited Announces Board Appointments of AMP Capital's Private Markets business
October 11, 2021 at 09:45 pm
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AMP Limited has announced the appointment of Patrick Snowball as the Chairman designate and Andrew Fay as Deputy Chairman designate of the Board of AMP Capital's Private Markets business (Private Markets). Together Mr. Snowball and Mr. Fay bring broad international experience of financial services and investment management, including real estate and infrastructure investment. Both have strong knowledge and experience of listed companies, corporate governance, and investor engagement. Mr. Snowball, who is based in London, is a respected Board director and executive, with a 30-year career in financial services, in the United Kingdom and Australia. He led the transformation of ASX-listed Suncorp Group as its Group CEO from 2009 to 2015, driving a recovery in the group's performance and market value. Since leaving Suncorp, he has served as Chairman of Sabre Insurance Group plc and IntegraFin Holdings plc, both of which he led to successful initial public offerings on the London Stock Exchange. He is currently Chairman of UK-based specialist lender, Provident Financial plc. Mr. Fay, based in Sydney, brings deep experience gained from over three decades working in funds and investment management including as the CEO and Chief Investment Officer (CIO), and later as Chairman, of Deutsche Asset Management in Australia, as well as Regional CIO, Asia-Pacific for the business. He is currently a non-executive director, and Chair of the Remuneration and Nomination Committee, of ASX-listed Pendal Group, from which he will retire in December 2021. Mr. Fay is also a non-executive director of Spark Infrastructure Group, from which he is due to step down following the completion of a scheme of arrangement to take over the business. He has also served as Deputy Chairman and a non- executive director of Cromwell Property Group, a non-executive director for Gateway Lifestyle and Alternate Director for Dexus Property Group. Effective 1 November 2021, Mr. Snowball and Mr. Fay will work with AMP Capital CEO Shawn Johnson and non-executive director Michael Sammells to continue progressing the operational separation and demerger of Private Markets, which remains on track to complete in first half of 2022. AMP expects to make further non-executive appointments to support the planned demerger in first half of 2022, with a focus on establishing a Private Markets Board with strong diversity, governance and business experience and global perspective. Patrick Snowball is an internationally respected financial services executive with direct experience leading an ASX-listed financial services business and the successful IPO of two UK financial services businesses. Since 2018 he has served as Chairman of specialist UK lender, Provident Financial plc. In this role he was responsible for all UK operations, overseeing 34,000 employees. Mr. Snowball is currently based in London. Andy Fay has more than 30 years' experience in funds and investment management with senior roles including Chief Executive Officer and Chief Investment Officer at Deutsche Asset Management (Australia) Limited and Regional Chief Investment Officer, Asia-Pacific, for Deutsche Asset Management.
AMP Ltd is an Australia-based company, which provides banking, superannuation, retirement and financial advice services in Australia and New Zealand. Its businesses include AMPâs Platforms, AMP Bank, AMPâs Master Trust, AMP Advice, and AMP New Zealand Wealth Management. AMPâs Platforms business provides superannuation, retirement and investment solutions, enabling advisers and their clients to build a personalized investment portfolio on its flagship North platform. AMP Advice provides professional services to a network of aligned and independent financial advisers. AMP Bank provides customers with home loans, deposit and transaction accounts in Australia. AMPâs Master Trust provides personal and workplace superannuation products and investment services. AMP New Zealand Wealth Management provides customers with a variety of wealth management solutions including KiwiSaver, corporate superannuation, retail investments, a wrap investment management platform and general insurance.