AMP has announced a major restructuring of its UK operations which sees UK Financial Services managing director Tom Fraser leave the company.
AMP's UK presence will be divided into two companies. AMP UK Contemporary Financial Services under the leadership of new managing director John Drabble, will include NPI, Towry Law, Ample the UK Bank. Ian Laughlin is appointed managing director of AMP UK Life Services which will oversee the closed books of Pearl and London Life.
The move follows the recent departure of the three top executives of the Australian parent company. New chief executive Andrew Mohl says: “We have moved quickly, which reflects the determination and enthusiasm of the new management team to turn around the performance of AMP.”