AMP Capital has announced the head of its global infrastructure equity business will succeed the retiring CEO. Boe Pahari will succeed Adam Tindall as chief executive of AMP Capital, effective 1 July. Mr Pahari is currently AMP Capital’s global head of infrastructure equity and director, north-west region (UK, Europe and the Americas).

He joined AMP Capital in 2010 and has led the development and global expansion of the infrastructure equity business and has been a “key driver” in AMP Capital’s growth over the past five years. “With Adam’s decision to retire, we have sought to appoint a leader with a global view and track record for growth,” said AMP chief executive Francesco De Ferrari. “Boe has led the international expansion of our infrastructure equity business over the past six years, demonstrating his capability and strategic acumen.

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First Sentier Investors has appointed two financial services veterans to its board as independent non-executive directors. Following its sale last year to Mitsubishi UFJ Trust and Banking Corporation – a wholly owned subsidiary of Mitsubishi UFJ Financial Group – First Sentier Investors announced its intention to operate as a standalone investment manager governed by a board of directors. Michelle Tredenick and Richard Wastcoat have now been appointed as independent non-executive directors, effective immediately.

A big four bank has appointed a new chair of its wealth business as it seeks to separate the business from its core banking offering. In a statement, NAB said it had appointed Robert Coombe as non-executive chairman of National Wealth Management Services Limited, the head company of the MLC Wealth business. NAB chairman Philip Chronican said the appointment of Mr Coombe would be the first in a series of appointments of independent board members to the wealth business as NAB sought to establish MLC as its own separate entity from the bank.

“Rob has the right leadership skills and experience for MLC as it separates from NAB at a critical time for the wealth management sector and its clients,” Mr Chronican said. “He has extensive relevant experience in wealth management and financial services including superannuation, asset management, retail and private banking and financial advice businesses. MLC is well progressed in its plans to reshape, restore and renew its business and this appointment represents another important milestone in its establishment as a standalone business with strong corporate governance.”

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