AMP has announced a raft of changes to its SMSF arm, including new board appointments, a restructure of management and a re-brand.
In an announcement yesterday, AMP said the SMSF business will now be known as SuperConcepts, incorporating a range of services offered by the firm, including administration, education and software services.
AMP's existing SMSF brands – AMP SMSF Solutions, Ascend, Cavendish, Justsuper, Multiport, SuperIQ, SuperMate and yourSMSF – will operate as sub-brands of SuperConcepts.
The current managing director of AMP SMSF, Natasha Fenech, will be chief executive officer of SuperConcepts.
"This change unifies our businesses and teams, better positioning us to pursue the next phase of our growth strategy, which will be driven by high-quality customer service, access to a range of market-leading SMSF product providers and the ongoing delivery of a superior SMSF software solution, SuperMate," Ms Fenech said.
ifa's sister publication SMSF Adviser reported last week that the business will be supported by its own board.
AMP today confirmed the board will include former assistant deputy commissioner, superannuation at the ATO, Stuart Forsyth; SuperIQ's chief executive, Andrew Bloore; and chief customer officer at AMP, Paul Sainsbury.
In addition, the board will include Ms Fenech, as well as Jonathan Deane, chief innovation officer at AMP. Richard Grellman AM has been appointed as chair of the board, AMP said.
Further, Stephen Doulgeridis, founder of Justsuper, has been appointed as general manager, business development, while former Supercorp chief executive officer, Kurt Groeneveld, has been appointed as chief technology officer.
The regulator has also banned the director of the firm linked to the Mayfair 101 Group from controlling a financial services entity.
The big four bank has confirmed the move today.
Joe Longo has addressed ongoing concerns by the industry.
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