She told Good Returns that it was a hard decision to make and she was "sad" to leave.
"There's nothing about AMP Capital which made me want to leave. It's a personal choice."
Savage isn't leaving to go to another funds management firm, nor is she going overseas.
Rather she and her husband have a number of other business interests and they intend managing and growing these. In some ways it was like having her own private equity business.
“It now feels like the right time for me to pursue new challenges in my life. I still feel passionate about AMP Capital, the people who work in the business and, of course, our clients... but it’s time for me to enter the next stage of my working life."
She says it is an appropriate time to move on because of changes to the business.
During her reign the company has been through a big growth curve acquiring new businesses, developing product and taking over NZX-listed company Capital Properties.
She says AMP Capital is moving into a consolidation phase. Savage is going to continue to contribute to the broader business and social communities by staying involved with community organisations such as The New Zealand Institute, The Enterprise New Zealand Trust and the YWCA Future Leaders Programme.
AMP Capital says it is "committed to finding a replacement managing director for the New Zealand business."
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