Australian investment manager AMP has named Alex Wade as its new head of advice, replacing Jack Regan who will retire after a stint of around two decades at the firm.

Alex Wade joins from Credit Suisse, where he worked for 12 years.

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Latterly, he was the head of developed and emerging Asia at Credit Suisse Private Banking. In this role, he oversaw the domestic private banking businesses for Australia, Japan and India alongside the offshore markets of non-resident Indians, Sri Lanka and Pakistan.

He also served as the chief of staff for Asia Pacific, and head of private banking for Australia at Credit Suisse.

AMP CEO Francesco De Ferrari said: “Alex is a talented leader and strategic thinker, who will bring valued experience and relationships to AMP’s advice business. The financial advice industry in Australia is in the process of renewal, and AMP and Alex will play a prominent role in driving this change.”

Wade will assume the role of AMP’s group executive for advice on 7 January 2019 and report to Ferrari.

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“I offer the warmest thanks to Jack Regan for his commitment to our advisers, customers and employees over his long service at AMP. After ten years leading AMP New Zealand, Jack took on the Group Executive, Advice and New Zealand, role in 2017, bringing his deep understanding of the advice industry to improve the governance and controls of the business,” Ferrari stated.