AMP added to McKeon's list of appointments
Mr McKeon was named Australian of the Year in 2011 in recognition of his work across a range of charities, businesses and community organisations.
Now he is set to become a non-executive director on the board of AMP, the largest superannuation manager in the country.
But Mr McKeon said he did not see himself taking on a portfolio of different board seats on listed companies across Australia.
He said on Friday that he had been attracted to the position at AMP because of the crucial role that wealth management played in the lives of Australians, and because "business runs through my veins".
"It all made sense, the timing worked, the stars aligned. But there's no abrupt departure from what I've been doing. It will still remain an eclectic group of interests that are right for me," he said.
Mr McKeon is the executive chairman of Macquarie Bank's Melbourne office, chairman of the CSIRO board, and led a review of health funding that was handed to the government last week.
After being diagnosed with multiple sclerosis more than a decade ago, he was the founding chairman of MS Research Australia between 2004 and 2010.
He said he was attracted to AMP because of the impact financial services had on millions of Australians, and the company's improvement over the last decade.
AMP has faced growing competition from the banks' push into wealth management, but strengthened its market position in 2011 through a merger with AXA Asia Pacific.
"AMP's had some dark days in years gone past," Mr McKeon said.
"The last 10 years has been one of the most fabulous restorations of iconic status that you'll see in Australian corporate history. It doesn't always go that way."
He has previously chaired the listed accounting software company MYOB, but said he would only take up "one or two" positions on publicly listed company boards.
Mr McKeon will replace Nora Scheinkestel, who will retire at AMP's next annual general meeting.
Frequently Asked Questions about this Article…
Simon McKeon is a philanthropist and investment banker who was named Australian of the Year in 2011. The article reports he will join AMP's board as a non-executive director, bringing high-profile experience from roles such as executive chairman of Macquarie Bank's Melbourne office and chairman of the CSIRO board—details that make his appointment notable for AMP shareholders and everyday investors.
According to the article, Simon McKeon will become a non-executive director on AMP’s board. The piece highlights that he was attracted to the position because of the crucial role wealth management plays in Australians’ lives and because AMP’s timing and recent progress made the role appealing to him.
The article quotes McKeon saying he was attracted to AMP because of the impact financial services and wealth management have on millions of Australians, and because 'business runs through my veins.' He also praised AMP’s improvement over the last decade and felt the timing was right for him to join.
The article notes McKeon is executive chairman of Macquarie Bank’s Melbourne office, chairman of the CSIRO board, led a recent review of health funding delivered to government, and was founding chairman of MS Research Australia (2004–2010). He has also previously chaired the listed accounting software company MYOB.
The article states McKeon will replace Nora Scheinkestel, who will retire at AMP’s next annual general meeting.
The article describes AMP as the largest superannuation manager in Australia. It notes AMP strengthened its market position in 2011 through a merger with AXA Asia Pacific and that the business has faced growing competition from the banks’ push into wealth management.
No. The article reports McKeon said he did not see himself taking on a large portfolio of board seats on listed companies across Australia and would only take up 'one or two' positions on publicly listed company boards.
McKeon described the past 10 years as 'one of the most fabulous restorations of iconic status' in Australian corporate history, saying AMP had some 'dark days' previously but had improved significantly. The article presents this as his view of the company’s recovery and improvement over the last decade, which investors may note as context when evaluating AMP’s progress.
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