AMP Capital appoints Boe Pahari as its new chief executive

AMP Capital has appointed Boe Pahari as its new chief executive, as he takes the reins from Adam Tindall.

AMP Capital has appointed Boe Pahari as its new chief executive to spearhead increased growth overseas in the real estate and infrastructure division, as he takes the reins from Adam Tindall.

Mr Pahari was most recently the global head of the group’s infrastructure equity and director of AMP’s northwest regional investments, which include the UK, Europe and the Americas. He begins his new role from the start of the new financial year.

The unexpected retirement of Mr Tindall from AMP comes after a strong period of growth at the real estate and infrastructure unit, with assets under management increasing by $43bn during his five years of leadership. Operating earnings rose more than 43 per cent over the same period.

With AMP Capital one of few bright spots at the wealth group, Mr Tindall was the second-highest-paid AMP executive for 2019 after CEO Francesco De Ferrari, with total annual remuneration of $4.1m. In the prior year, Mr Tindall was the only AMP executive to receive a bonus given the company was reeling from damaging revelations fleshed out at the Hayne royal commission.

An AMP statement on Friday said Mr Tindall would work with Mr Pahari through a transition period to “ensure an orderly handover”.

Mr De Ferrari said Mr Pahari had been at the helm of the firm’s international investment expansion for the past six years.

“As incoming CEO, Boe’s mandate will be to continue to grow the business, capitalising on its strengths and the opportunities in infrastructure and real assets,” Mr De Ferrari said.

Mr Pahari said: “We have substantial scope to expand globally, further leveraging our strengths, particularly in infrastructure and real assets.”

Mr Pahari has been with AMP Capital since 2010 and prior to that had stints at Commonwealth Bank, Citigroup and ABN Amro. He will continue to oversee the infrastructure equity business as part of the new role.