AMP Capital's controversial new boss shuffles management deck

AMP Capital's controversial new boss has put his broom through the subsidiary of the once-venerable wealth manager with four members of his executive team leaving.

The departures were led by head of real estate Carmel Hourigan who has jumped ship to take up a senior role at property fund manager Charter Hall, which has previously run the ruler over AMP's real estate business possibly marking a reinvigoration of the fund manager's interest.

Carmel Hourigan has jumped ship from AMP Capital as new boss Boe Pahari announced a shakeup of the business. Credit:

AMP, which has lurched from crisis to crisis over the past two years, appointed Boe Pahari as the chief executive of its asset management arm AMP Capital in June. The appointment caused controversy after it emerged Mr Pahari had been financially penalised following allegations he behaved inappropriately towards a woman at AMP's London offices.

It also emerged that Mr Pahari was elevated to the top job after the sudden and unexpected departure of Adam Tindall and his appointment came because he had discussed leaving AMP, potentially by offering to buy out part of the business to set up his own infrastructure investing outfit.

The AMP subsidiary on Wednesday announced a large scale shake-up of the team reporting to Mr Pahari to allow it to boost its presence in infrastructure investments markets - a earnings driver for the division. The departures include AMP Capital head of infrastructure debt Andrew Jones, the unit's acting chief financial officer and chief operating officer Adrian Williams and AMP Capital head of people and culture, Madeleine Mac Mahon as well as Ms Hourigan.

AMP Capital said in a statement the appointments reflected its strategy to grow in international markets. "We are drawing on the talents within our business and seeking to bring a diversity of views to the leadership group," Mr Pahari said.

"This group will develop and execute AMP Capital’s new strategy. I’m excited by what we will achieve together, as we continue to export our investment excellence to a global market, particularly in real assets."

Ms Hourigan said in a note to her team obtained by The Age and The Sydney Morning Herald that she intended to stay on for "the next month or so" to help Mr Pahari appoint her replacement.

"I leave certain in the fact that you will continue to do an outstanding job to grow this business underpinned by the values we hold true and I ask you to give Boe your full support," Ms Hourigan said.