‘Respected business leader’ joins AMP after months of turmoil
AMP has appointed former Bendigo and Adelaide Bank chief Mike Hirst as a non-executive director, as the under-pressure group seeks to lift financial services experience on its board.
In an ASX statement on Friday, AMP said Mr Hirst would join the board as a non-executive director on July 1. It cited his more than 40 years of experience in senior management and board roles and said
Mr Hirst was a “respected business leader”.
“As the CEO of Bendigo and Adelaide Bank Mike led and grew the business in a highly challenging and competitive environment with a clear focus on people and clients,” AMP chairman Debra Hazelton said.
“His detailed knowledge of Australia’s retail banking and wealth environment, as well as his broad sector experience as a non-executive director including innovative fintech start-ups and across government, will be invaluable.”
Mr Hirst is currently a board member of ASX-listed investment company AMCIL and private health insurer GMHBA, and is chairman of Butn, a small business-focused fintech company. He was Bendigo and Adelaide Bank CEO from 2009 until 2018, after holding several senior roles at Colonial.
AMP’s board has navigated a period of turmoil over the past 12 months, which saw the departures of former chairman David Murray and board member John Fraser last August.
That related to the promotion of controversial executive Boe Pahari to run AMP Capital last year, which caused investor angst when details of a prior sexual harassment penalty became public.
AMP in April appointed ANZ deputy CEO Alexis George as its new group boss, and she starts in August, following the departure of incumbent Francesco De Ferrari.