AMP has delayed the transition of John Patrick Moorhead to chief financial officer by four months with Gordon Lefevre to continue in the role until the $3.3 billion sale of the company’s insurance business is complete.
The wealth manager said on Monday Mr Lefevre had agreed to remain as Group CFO through the company’s first half result in August and would continue to drive the transaction with London-based wealth protection group Resolution Life.
AMP said the separation of its insurance segment had proven complex and in some cases regulatory requirements had changed since the transaction was agreed in November.
“However, we continue to work towards completion of the sale by the end of the third quarter of this year,” the company said on Monday.
Mr Moorhead will now commence as AMP Group CFO on October 1, four months after the intended June 1 start date as flagged at the annual general meeting in May.
AMP said Mr Moorhead will in the meantime assist with the completion of the company’s strategic plan.