AMP Limited (ASX: AMP) held its 2026 Annual General Meeting on 10 Apr 2026. The meeting marked a significant leadership moment, with incoming Chief Executive Officer Blair Vernon addressing shareholders publicly for the first time in his new role.
Figure 1: AMP Limited branding displayed at its corporate office [Courtesy: Financial Newswire]
The AMP AGM highlights are centred on three clear priorities Vernon outlined for the Company’s near-term. Chair Mike Hirst also addressed shareholders on financial performance, capital management, and the CEO transition.
A Strong 2025 Sets the Platform for What Comes Next
AMP Limited delivered an underlying net profit after tax of A$285 million in 2025, an increase of 20.8%. Statutory net profit came in at A$133 million for the same period.
Underlying earnings per share rose 25.6% to 11.3 cents, supported by a reduced share count following the prior buyback. The Company declared a total full-year dividend of 4 cents per share, 20% franked, in line with guidance.
North Platform and Super Delivered Solid Operational Gains
AMP’s North platform attracted more than 120 new advisers with funds under management over A$1 million during 2025. Cashflow growth on the platform rose over 85% for the year.
In the Superannuation and Investments business, the majority of MySuper members received top-quartile investment returns. AMP also launched AMP Lifetime Boost for accumulation members, with over 145,000 members benefiting from the new feature by year end.
New Zealand and Partnerships Also Contributed to AMP AGM Key Takeaways
AMP’s New Zealand business grew underlying net profit after tax by 5.4% despite a challenging local economic environment. The Partnerships business delivered profit growth of more than 15%, driven largely by the China Life Pension Company relationship.
AMP Bank remained under focus, with management acknowledging that return on capital in the banking segment is not yet where it needs to be. A strategy is in place to improve the funding mix through AMP Bank GO, which launched in February 2025.
Blair Vernon Steps Up as CEO With Three Defined Priorities
Blair Vernon’s appointment as Group Chief Executive Officer was announced in January 2026. He succeeded Alexis George, who concluded her executive career at AMP at the end of March 2026.
Figure 2: Blair Vernon, Chief Executive Officer of AMP Limited [Courtesy: Momentum Media]
The AMP CEO outlook 2026 is built on three priorities Vernon outlined directly at the AGM. These are accelerating growth in AMP’s wealth businesses, maximising the benefits of artificial intelligence, and maintaining a sharp focus on capital allocation and organisational efficiency.
Wealth Growth, AI Adoption, and Capital Discipline Define the Roadmap
On wealth growth, Vernon said the focus will be on customer acquisition and retention, alongside deepening adviser partnerships. Adviser roadshows are already underway across Australia, led by the North platform proposition.
On artificial intelligence, Vernon was direct:
“AI has been part of our business for nearly three years, and we need to continue to move fast to meet the accelerating pace of change.”
AMP reported that 84% of its people use core AI tools on a weekly basis. An average of 95% of contact centre calls are now transcribed, with 90% quality checked using AI.
Capital Return Underway as Buyback Commences
On capital allocation, Vernon confirmed AMP’s commitment to returning surplus capital to shareholders. The Company recently announced a A$150 million on-market share buyback, which will commence shortly.
“We’re committed to the efficient use of capital and facilitating a return of capital to shareholders, in the absence of more compelling opportunities to add capability.”
The board also confirmed a steady dividend of 4 cents per share is targeted for each of the next two years.
Chair Mike Hirst Addresses Share Price and Remuneration Questions
Chair Mike Hirst acknowledged that AMP’s share price has come under pressure since the full-year results announcement. He attributed this in part to broader market factors, including the increased influence of high-frequency trading and passive investing.
Hirst was clear that the board remains focused on what it can control, including executing the strategy, driving wealth business growth, and managing capital carefully. He confirmed that the Dividend Reinvestment Plan remains paused while the buyback is active.
CEO Transition and Board Renewal Are Part of the AMP AGM Highlights
Alexis George concluded nearly five years as Group Chief Executive Officer at the end of March 2026. During her tenure, AMP exited non-core businesses including AMP Capital and AMP Advice, and returned A$1.1 billion in capital to shareholders.
Vernon, who joined AMP in 2009 and most recently served as Chief Financial Officer, reduced the cost base by 13%, or approximately A$90 million, over the past two years. At the board level, Linda Elkins was appointed as a non-executive director following the retirement of Andrea Slattery in August 2025.
AMP ASX Share Price
AMP Limited (ASX: AMP) is currently trading at A$1.340 per share, with a market capitalisation of A$3.31 billion. The 52-week range stands at A$1.090 to A$2.010 per share.
Figure 3: AMP Limited (ASX: AMP) share price performance over the past year [Courtesy: ASX]
Industry Outlook
Australia’s superannuation system now holds nearly A$4.5 trillion in savings and continues to grow. The retirement segment represents a structural tailwind that wealth platform operators and superannuation funds are actively positioning to capture.
Scalable digital financial advice solutions are becoming increasingly critical as adviser shortages persist across the market. AMP’s early deployment of digital advice journeys, with nearly 40,000 member journeys completed in less than 12 months, reflects this broader sector shift.
Future Direction and Impact on AMP Shareholders
The AMP AGM key takeaways point to a Company focused on organic growth rather than acquisitions. Vernon was explicit that any inorganic opportunity would need to add targeted capability in wealth, not simply scale.
The AMP CEO outlook 2026 positions Blair Vernon’s tenure around measurable outcomes in adviser growth, AI-driven productivity, and capital efficiency. The A$150 million buyback is the immediate action confirming capital discipline is operational, not aspirational.
For shareholders tracking the AMP AGM highlights, the next test will be how quickly the North platform and Superannuation and Investments business translate strong operational momentum into sustained positive cash flows.
Frequently Asked Questions
Q1. What were the key AMP AGM highlights from the 2026 Annual General Meeting?
Ans. The key AMP AGM highlights were the confirmation of Blair Vernon as new CEO, the announcement of a A$150 million share buyback, and the three strategic priorities for growth, AI, and capital discipline.
Q2. What is the AMP CEO outlook 2026 under Blair Vernon?
Ans. Blair Vernon’s three priorities are accelerating wealth business growth, maximising AI benefits, and maintaining disciplined capital allocation and organisational efficiency.
Q3. What were AMP’s 2025 financial results?
Ans. AMP delivered underlying net profit after tax of A$285 million for 2025, up 20.8%, with underlying EPS of 11.3 cents, up 25.6%.
Q4. What are the AMP AGM key takeaways on dividends and buybacks?
Ans. AMP declared a total dividend of 4 cents per share for 2025, 20% franked. A A$150 million on-market buyback has been announced, with a steady 4 cent per share dividend targeted for FY26 and FY27.
Q5. Why is AMP focused on AI?
Ans. AMP has used AI for nearly three years. Currently, 84% of staff use AI tools weekly, and 95% of contact centre calls are now transcribed using AI, improving service outcomes.
Disclaimer
This article is intended for informational purposes only and does not constitute financial or investment advice. All content is based on the ASX announcement released by AMP Limited on 10 Apr 2026 and supplementary publicly available sources. Investing in securities involves risk. Readers should conduct their own research and seek independent financial advice before making any investment decisions. Colitco does not hold any position in the companies or organisations mentioned.
Sources
https://www.asx.com.au/markets/company/AMP
Last modified: April 10, 2026
