AMP advice chief risk officer resigns

A spokesperson for AMP has confirmed to ifa that Pally Bargri has resigned from his role after four years with the company.

In a post on Linkedin, Pally Bargri said his decision to resign followed a period of contemplation over his role and future with the business.

“Having reflected very deeply about how I feel, what’s most important to me and why, I announced earlier today my resignation from AMP,” he said.

“I am immensely proud of all that my teams and I have achieved, and the privilege and honour I’ve had working with some intelligent, committed and loyal people.”

Mr Bargri added that he did not believe himself to be equipped to guide AMP’s advice arm through the challenges it will face in the coming months.

“When I think of where I’m personally at, and the energy and commitment the organisation needs from me now, I conclude that I have insufficient capacity to carry through the important task of navigating the days and months ahead,” he said.

“Perhaps the ambiguity of what I’ll do next, and the uncertainty about the opportunity that lies ahead, is a nice challenge to have. But for now, I look forward to sharing all I have with my two girls, as I begin to contemplate what may be next.”

A spokesperson from AMP told ifa that Mr Bargri will leave the business in mid-July, and that an internal and external search for a replacement – led by chief risk officer Jenny Fagg – has already commenced.

During his tenure with the business, Mr Bargri focused on “delivering a new approach to compliance for the advice business”, and was involved in efforts to strengthen AMP’s governance, remediation and audit approaches, the spokesperson said.

Mr Bargri’s resignation follows the departure of the company’s chief executive Craig Meller and a number of board members following the royal commission’s revelations that AMP may have violated financial services law on multiple occasions.