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    AMP   AU000000AMP6

AMP LIMITED

(AMP)
  Report
Delayed Australian Stock Exchange  -  12:10:46 2023-01-27 am EST
1.345 AUD    0.00%
01/25AMP Flags FY22 Impairments of AU$68 Million
MT
01/09AMP-Update on sales of Collimate Capital businesses
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2022AMP-Finalisation of proceeds and earn-out from Global Equities and Fixed Income sale
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Peter Fredricson appointed AMP Chief Financial Officer

12/01/2022 | 04:32am EST

AMP Limited today announces the appointment of Peter Fredricson as its new Chief Financial Officer (CFO) and member of the group Executive Committee.

Mr Fredricson will start in the role on 9 January 2023, reporting to Chief Executive Officer, Alexis George.

As CFO Mr Fredricson will be responsible for leading the financial and strategic activities of the organisation across Financial Control, Statutory and Regulatory Reporting, Performance Reporting, Tax, Investor Relations, Treasury, M&A, Strategic Sourcing and Workplace Experience.

Mr Fredricson is a seasoned ASX CFO with a track record of adding significant value and driving growth in organisations, most recently in the energy and infrastructure sectors. Mr Fredricson was until 31 January 2022, Acting CEO and CFO of Oil Search Limited where he oversaw the merger with Santos. Prior to that he was CFO of energy infrastructure business APA Group. Mr Fredricson also has 15 years of career experience in financial services and investment banking with Merrill Lynch, Tower Corporation and Grant Samuel.

Mr Fredricson will succeed current CFO James Georgeson. Mr Georgeson has made a substantial contribution to AMP since joining the business in 2001 and has held senior finance positions across AMP's Australian and New Zealand businesses.

Over the last few years James' experience and deep knowledge of AMP has been instrumental in leading the Group through a period of significant change. Over the last three years, he has helped lead and oversee the divestment of a number of businesses and has supported the transformation of AMP. With these divestment programmes now concluded, and the sales of the AMP Capital businesses progressing towards completion, Mr Georgeson has decided it is the right time to explore new opportunities.

Mr Georgeson will support Mr Fredricson through a transition period in Q1 2023.

AMP Chief Executive, Alexis George commented:

'I am very pleased to have someone of Peter's calibre and experience joining the team at this critical point in our transformation. Peter will play a key role in helping accelerate our strategic growth plan.

'James leaves AMP with a strong Finance team in place, which is well positioned to continue to support the delivery of our strategy. I wish James all the very best for the future and thank him for his substantial contribution to AMP.'

Peter Fredricson Biography:

Peter is a highly experienced Chief Financial Officer, who was most recently the Acting CEO and CFO of ASX listed Oil Search Limited. He was Acting CEO for a period of six months, during which time he led the successful merger of Oil Search with Santos Limited.

Prior to Oil Search, Peter was the CFO of energy infrastructure company APA Group. Over 11 years he raised more than A$5 billion in equity, in support of an extensive M&A program, as well as investment in new and expanded assets. He helped grow the business from an ASX 200 entity to an ASX top 50 company.

Peter brings close to 15 years of experience in senior roles in the Financial Services sector. Peter's career has also involved significant transformation of finance, operations and the broader business. He is experienced in driving change, transformation, operational efficiency and growth, and has held a number of Board Director roles.

Peter has a Bachelor of Commerce degree from the University of Auckland, is a Chartered Accountant and a graduate of the Australian Institute of Company Directors.

Authorised for release by the Market Disclosure Committee.

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED 0.00% 1.345 Delayed Quote.2.28%
APA GROUP -1.21% 10.65 Delayed Quote.-1.02%
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Analyst Recommendations on AMP LIMITED
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Financials
Sales 2022 1 586 M 1 127 M 1 127 M
Net income 2022 476 M 339 M 339 M
Net Debt 2022 28 200 M 20 044 M 20 044 M
P/E ratio 2022 10,4x
Yield 2022 0,38%
Capitalization 4 090 M 2 907 M 2 907 M
EV / Sales 2022 20,4x
EV / Sales 2023 23,3x
Nbr of Employees 4 826
Free-Float 94,4%
Chart AMP LIMITED
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Technical analysis trends AMP LIMITED
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 9
Last Close Price 1,35 AUD
Average target price 1,18 AUD
Spread / Average Target -11,9%
EPS Revisions
Managers and Directors
Alexis George Chief Executive Officer & Director
Peter J. Fredricson Chief Financial Officer
Debra Hazelton Chairman
Felicia Trewin Chief Technology Officer
Rod Finch Director-Superannuation, Retirement & Investments
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