Wealth manager AMP Ltd said on Thursday it has appointed Australia and New Zealand Banking Group deputy chief Alexis George as its new group chief executive officer, with Francesco De Ferrari set to retire from the role.
De Ferrari's exit comes after he was handed the top job in 2018 and was tasked with an overhaul of the company's culture, after a financial sector government inquiry found widespread misconduct that led to an exodus of clients.
"As we noted last week, with our portfolio review reaching completion, the Board and Francesco agreed that it is an appropriate time to begin the transition to a new CEO to take AMP forward," AMP Chair Debra Hazelton said.
George would join AMP from lender ANZ and would take on the position in the third quarter of the year, the company said in a statement.
(Reporting by Rashmi Ashok in Bengaluru; Editing by Krishna Chandra Eluri)
