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AMP Capital announces new chief executive

AMP Capital has announced a new chief executive, replacing Boe Pahari who stepped down in August last year.

Shawn Johnson has landed the top job. He was previously senior managing director and chairman of the investment committee of State Street Global Advisors for almost a decade.

That role would have seen him have oversight of approximately US $2.1 trillion in client assets.

More recently, Johnson led his own alternative investments business.

David Atkin, AMP Capital deputy chief executive and former chief executive of Cbus, had been acting in the chief executive job since Pahari's departure.

As AMP Capital chief executive, Johnson will lead its strategy and the proposed demerger of the private markets businesses which is expected to complete in the first half of next year.

Johnson will begin his role on 28 June 2021. He will be based initially in Sydney, Australia but will work on a global basis across the key international offices of the private markets business.

"As AMP Capital separates from AMP and establishes a new culture and brand, Shawn has clearly demonstrated his capability to lead and inspire teams of highly capable investment professionals," AMP chair Debra Hazelton commented.

At the same time AMP announced Johnson's appointment, it also confirmed the institution will be without a chief executive for a short period. Outgoing chief executive Francesco De Ferrari will depart on 30 June 2021 but Alexis George will not take up the position until 2 August 2021.

"We would like to thank both Francesco De Ferrari and David Atkin for their leadership of AMP Capital and are delighted that David has agreed to extend his period as Deputy chief executive to ensure a smooth handover to Shawn throughout July," Hazelton said.

Commenting on his appointment, Johnson said: "AMP Capital is a globally-respected investment manager, and I'm excited by the significant potential for international growth but also in Australia. I'm confident of its underlying strength and the depth of its investment, distribution, and operational talent. Our focus will be to harness these strengths as we set up as a new, independent organisation following separation from AMP."

AMP chief financial officer James Georgeson will serve as acting chief executive for the period.

Read more: USBoe PahariDavid AtkinShawn JohnsonCbusState Street Global Advisers for