May 1, 2019 / 10:07 PM / 2 months ago

Australia's AMP names John Patrick Moorhead as new CFO

(Reuters) - Australia’s embattled wealth manager AMP Ltd named insider John Patrick Moorhead as its new chief financial officer on Thursday, replacing Gordon Lefevre, who retires after more than five years as CFO.

Moorhead, who is currently chief financial officer and chief operating officer of AMP Capital, will take over on June 1.

The announcement by Australia’s largest listed wealth manager follows a quarterly update, where it posted a nine-fold increase in cash outflows.

Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Bernard Orr

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