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Australia's AMP Capital Targets Northern Hemisphere; Makes Raft Of Management Changes
Tom Burroughes
27 November 2014
Australia’s , which had more than A$145 billion ($124.7 billion) of assets under management at end-September, has unveiled changes to its business lines, creating the new role of global head for infrastructure equity to target investments in the northern hemisphere. Boe Pahari, who is head of infrastructure for Europe and the Americas, has been appointed to this role, which will be based in London, and will join the AMP Capital leadership team. Pahari will also assume responsibility for the Australian and Indian infrastructure equity teams, it said in a statement yesterday. “We are investing in the areas where we see the greatest opportunities to support our growth. The changes we’re making will ensure AMP Capital is aligned internally as well as to external market forces in order to deliver for our clients as we continue to expand and internationalise the business,” Stephen Dunne, chief executive of AMP Capital, said. Andrew Jones, global head of infrastructure debt, has been promoted to the AMP Capital leadership team. As a result of these changes, the Australia-based role of global head of Infrastructure, held by Scott Davies, will no longer exist and Davies will leave AMP Capital by the end of the year. “The decision to split the infrastructure debt and equity teams and have a member of the leadership team based in London reflects AMP Capital’s commitment to our infrastructure business and recognises its importance as part of our global offering to clients,” Dunne said. He added: “We’re seeing great interest in the recently-launched global infrastructure platform and have raised more than $1 billion for the Infrastructure Debt Fund II during the past year, which showcases the compelling investment opportunities across the asset class.” The firm said it will streamline the end-to-end client proposition. As part of this move, Anthony Fasso, AMP Capital director, international, will head up the global product team while continuing to focus on international opportunities. Sharon Davis, currently AMP Capital’s chief operating officer, will become director, Australia and New Zealand and take on responsibility for the Australian client teams, New Zealand operations and a new global marketing and communications capability. Davis will retain responsibility for the investment services areas. In addition, executive general counsel Prue Milne has decided to take a career break after 16 years of service and will step down in February 2015. Yen Hui Tie, AMP Capital senior legal counsel, will take on the role of AMP Capital Head of Legal. All new members of the AMP Capital Leadership Team will report directly to Stephen Dunne. Also in November, the firm said one of its longest-serving members of its leadership team, director and chief investment officer, property, Andrew Bird, was set to retire in 2015. He has had a 37-year career in the property industry in the UK and Asia-Pacific fields.