Former AMP legal eagle Brian Salter sells waterfront mansion

The Salters have sold their wifewaterfront mansion in Longueville for reportedly north of $10m.

A year and a week after his dramatic departure from AMP, the financial services shop’s former chief lawyer Brian Salter is getting on with life.

On the weekend the former Clayton Utz partner sold his and wife Brigit’s waterfront mansion in Longueville on Sydney’s north shore for a price Margin Call hears was in the order of $10 million.

That should top up the family’s bank balance as Salter considers his next career move, while keeping an eye on James Shipton’s ongoing Australian Securities and Investments Commission investigation into AMP.

The Salters — who have recently become empty nesters — also have a holiday home at Killcare on the Central Coast.

They’re now in the market hunting for something smaller after they sold their five-bedroom family home, which they bought in 1997 for $1.64 million.

Salter left AMP along with its former chair Catherine Brenner on April 30, 2018, back when the financial firm was worth almost $12 billion.

The battered former blue chip’s market cap has since been whittled to $6.45bn.

That’s been tough for shareholders, as Salter knows well. Last year’s annual report recorded that when he departed, Salter held 167,197 AMP shares (now worth $364,489).

It also noted he was paid in lieu of a 12-months’ notice period, but without any of the incentive payments that topped up his remuneration in 2017 to $1.96m.

Salter is not without his fans in corporate Australia who think he was unfairly set up as a fall guy by AMP’s board.

He has briefed Arnold Bloch Leibler’s Jonathan Milner on his situation — just in case.

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