AMP appoints new general counsel to replace Salter

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AMP appoints new general counsel to replace Salter

By Simone Ziaziaris & Luke Costin

Embattled wealth manager AMP has replaced general counsel Brian Salter, who was stood down following revelations of the company's misconduct.

AMP secretary and general counsel, governance, David Cullen, who has been at the company since 2004, will immediately step into the role vacated by Mr Salter.

Brian Salter has denied any wrongdoing.

Brian Salter has denied any wrongdoing.Credit: Andrew Quilty

Mr Salter's departure was announced on the same day former AMP chairman Catherine Brenner stepped down, which was a little over a week after chief executive Craig Meller's departure.

That followed AMP's admission to the financial services royal commission to charging clients for advice they never received and then lying to the corporate watchdog about it.

Mr Salter has said he learned of his exit via AMP's announcement to the Australian Securities Exchange, and while he accepted his departure as a necessary part of the renewal, has denied any wrongdoing.

AMP said Mr Cullen brought almost 25 years' experience in the legal profession and has extensive experience across multiple portfolios.

AMP shares were down 0.5 cents at $3.925 at 1400 AEST.

AAP

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