AMP board names new chair

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

Interim chair John Palmer, who is set to retire today, said Ms Brenner received “strong and unanimous” support.

“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,” Ms Brenner 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 a director with Boral and Coca-Cola, and was formerly a senior investment banker and corporate lawyer, AMP said.

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