Vernon steps into AMP Australia role - for a while

AMP New Zealand wealth chief executive Blair Vernon has been seconded into a big role with its Australian parent company.

Friday, August 14th 2020, 2:36PM

Vernon has been seconded into the role of acting head of AMP Australia after the sudden departure of its former executive Alex Wade.

AMP announced last week that Wade would step down from his role effective immediately. No reasons were given for Wade's sudden departure, saying only that the business had accepted his resignation.

The AFR says Wade's departure was "triggered by a series of complaints about his conduct, including allegations the former private banker had sent explicit photos to female colleagues."

The departure is the latest scandal to hit the financial services firm and comes after it was criticised for promoting Boe Pahari to lead the AMP Capital division. Pahari was financially penalised over a harassment incident several years ago.

Vernon's secondment is temporary and he is doing the job from New Zealand.

Jeff Ruscoe has been appointed acting chief executive of the New Zealand business.

Tags: AMP