Senior industry figure resigns

Mr Dunne’s retirement comes after 20 years’ service, 12 of which he spent as chief executive at AMP Capital.

AMP chief executive Craig Meller praised Mr Dunne’s contribution to the company he joined in 1994.

“Stephen has led AMP Capital through a period of considerable change in the sector, both globally and domestically over the last 10 years, including the strategic alliance with Mitsubishi UFJ Trust and Banking Corporation (MUTB) in 2012 and the long relationship with China Life Insurance Company,” he said.

“AMP Capital has strong growth and investment returns driven by the internationalisation of the business, with a reputation for its infrastructure and property investment capabilities that puts the customer at the centre of everything they do.”

A search is now underway to find Mr Dunne’s replacement, who will be responsible for AMP’s investment management, investment performance and Asian expansion.