Australia's AMP says Chairwoman Catherine Brenner steps down – Reuters Money

(Reuters) – AMP announced the resignation of Chairwoman Catherine Brenner on Monday, the second senior executive at the Australian wealth manager to exit after damaging revelations at a judicial inquiry into the country’s financial sector of serious misconduct at the firm. 

FILE PHOTO: The logo of AMP Ltd, Australia’s biggest retail wealth manager, adorns their head office located in central Sydney, Australia, May 5, 2017. REUTERS/David Gray/File Photo

The country’s largest listed wealth manager said in a statement that Brenner would depart immediately, adding the board would cut all directors’ fees for the rest of calendar year 2018 by a quarter.

Brenner would be replaced by Mike Wilkins, who has been appointed executive chairman until a new chair is appointed on a permanent basis.

Reporting by Aaron Saldanha in Bengaluru; Editing by Peter Cooney

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