Banking giant AMP moved the multi-asset group into its wealth management business to create AMP Investments, an end-to-end super and investment platform operation.
Under Chief Investment Officer Anna Shelley, AMP Investments manages A$84.7bn (£48.3bn, $60.9bn, €56.7bn) of assets under management, including retirement savings for platform members and AMP’s pension plans, as well as investments on behalf of external institutional and retail clients.
The Multi-Asset group was formerly part of AMP Capital’s investment management business.
Scott Hartley, Managing Director of AMP Australian Wealth Management, said: “Building AMP Investments’ capability within the Australian wealth management business is an important milestone for AMP’s transformation strategy.
“The team oversees investment management for nearly one million AMP members. The team has strong capabilities across all asset classes, including responsible investing, which will be increasingly focused as more Australians seek to align their investments with their values.
“Working closely with the Trustee, the AMP business now has end-to-end oversight and accountability for investment management, including investment strategy, investment performance and ensuring that membership fees are competitive.”