ANZ's Alexis George to take over from Francesco De Ferrari as AMP CEO

ANZ's Alexis George to take over from Francesco De Ferrari as AMP CEO

Alexis George has been appointed as the new CEO of AMP.

The deputy CEO of ANZ (ASX: ANZ) will step into the top job at AMP (ASX: AMP) from 1 July, replacing Francesco De Ferrari who will retire as the company completes a portfolio review.

Alexis George will join AMP as CEO in Q3 subject to regulatory approvals, after having served as ANZ's deputy CEO as well as group executive wealth Australia, overseeing the sale of that business in 2018.

George will become part of a small cohort of female leaders in ASX 200 companies, including Shemara Wikramanayake at Macquarie (ASX: MQG), Elizabeth Gaines at Fortescue Metals (ASX: FML), Susan Lloyd-Hurwitz at Mirvac (ASX: MGR), Alison Watkins at Coca-Cola Amatil (ASX: CCL), Helen Coonan at Crown Resorts (ASX: CWN), Jeanne Johns at Incitec Pivot (ASX: IPL), Julie Coats at CSR (ASX: CSR), Marnie Baker at Bendigo and Adelaide Bank (ASX: BEN) and Cathy O'Connor at Ooh!Media (ASX: OML).

De Ferrari will continue to lead AMP during the interim period to ensure a smooth handover, and will continue to work with the board on the proposed transaction for AMP's private market business with Ares Management Corporation.

The outgoing CEO's retirement comes as AMP completes a major review of its portfolio.

"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.

"Francesco has led AMP through an extraordinary period, responding to unprecedented external challenges, all while successfully executing a complex transformation program.

"His strategy has materially reshaped the group, simplified AMP and sharpened the focus of each of our businesses on their strongest growth opportunities."

George takes up the top role at AMP with 25 years' experience in the financial service industry under her belt.

She spent seven years at ANZ, and prior to that held senior roles at ING Group.

"In Alexis George, we have a great leader and strong fit for the future of our company," Hazelton said.

"On any measure, she has outstanding industry experience in wealth management and banking, and is committed to continue the transformation of AMP's business, and importantly, our organisation's culture.

"Alexis will work with our executive team to complete and build on the strategic initiatives started under Francesco's leadership and take AMP forward to its next phase of growth."

George will receive $1.715 million in base remuneration, including superannuation, with an opportunity to earn a number of bonuses.

ANZ CEO Shayne Elliott farewelled George.

"While we are incredibly disappointed to lose Alexis, I could not be more proud she has been asked to take on such an important role as the next CEO of AMP," Elliott said.

"Alexis has made an invaluable contribution over the last seven years and I know she will have a similar impact on her new company. Her leadership during the pandemic was exceptional and made a big difference to how we were able to support our staff and customers through an incredibly challenging period.

"We will all miss her experience, wise counsel and down-to-earth leadership style. However, as one of the most experienced wealth executives in the country, she is ideally placed to lead AMP through its next phase and we all wish her well on the challenge."

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