AMP appoints new chair

The group announced today that Catherine Brenner has been elected chair of the AMP board. Ms Brenner joined the board in 2010 and was recently chair of AMP Life and the National Mutual Life Association.

Outgoing chair John Palmer said Ms Brenner received “strong and unanimous” support for her appointment.

Ms Brennan said she is honoured to be appointed chair of a company dedicated to delivering better outcomes for its customers and improving returns for shareholders.

“The board and management team remain focused on the delivery of AMP’s strategy – transforming its core Australian business to be more customer-centred, continuing its focus on efficiency and agility and capitalising on its investment strengths and capability to grow internationally,” she said.

“We have a highly skilled board but expect to make additional appointments to further strengthen our collective background, perspective and experience against the strategy.”

Ms Brenner is also a director with Boral and Coca-Cola, and was formerly a senior investment banker and corporate lawyer.

In his last speech as AMP chairman in May, Mr McKeon said that while the financial services company is making efforts to improve its culture, no organisation is perfect and mistakes can be made.

[Related: Suncorp Bank CEO to retire]