Mr Atkin, previously the chief of Cbus Super for 12 years, will assume operational leadership of AMP Capital in an interim capacity until June, while the investment business continues its search for a permanent CEO.
He will be reporting to AMP CEO Francesco De Ferrari, who will continue in a dual role as both the group’s chief and interim AMP Capital CEO.
Mr De Ferrari has been tasked with continuing the strategic transformation of the wealth giant and ensuring focus on its ongoing portfolio review.
“David is a highly regarded leader within our industry and I’m pleased we have been able to appoint an executive of his calibre into this interim role to help drive our transformation and deliver our strategy,” the AMP chief said.
“Having led three major superannuation funds in the Australian market, David brings a deep knowledge and understanding of clients and their expectations.”
He added that Mr Atkin will bring his experience of “reshaping organisational culture, including expertise in building diverse and inclusive leadership”.
The last AMP Capital chief, Boe Pahari, was demoted to the investment arm’s infrastructure equity business, after sexual harassment allegations against him were aired to the public.
The scandal also resulted in the resignations of AMP chair David Murray and AMP Capital chair John Fraser.
Mr Atkin’s appointment is effective from Monday.
“I look forward to supporting Francesco deliver AMP Capital’s transformation strategy and working with the highly capable team to take the organisation forward,” he commented.
I still can’t understand why the Board, has employed this man with his mission of ‘boosting’ up the look and books of AMP, then to go and break it up to sell off? – The Board must have a financial interest in this execution of a previous Australian Iconic Brand
Must be making plenty to do this as an interim role. Alternatively he is smart enough to know the job won’t exist in a year.