WEALTH MANAGEMENT CHIEF STEPPING DOWN

AMP is in search of a new CEO. The chief executive officer on the wealth management firm will depart at the end of 2018.

Craig Meller will retire at the end of 2018, AMP stated in an assertion to the Australian Securities exchange on Monday.
The

Craig Meller, AMP

company has began the search for his substitute.

U.k. national Meller was appointed CEO in January 2014. previous to this, he was handling director of AMP financial services from 2007 to 2013. He commenced at AMP at the group's U.k. business in 2001 before shifting to Australia in 2002 to absorb the position of managing director at AMP Banking.

AMP turned a lack of A$344 million into a complete year profit of A$848 million last year, following a restructuring of the insurance business and after cutting costs.