Top AMP Banking marketer quits

AMP Banking’s UK marketing director, Stephen Lowe, is leaving the bank and is in talks with a number of companies about senior marketing positions.

Lowe joined the company as marketing director at its launch three and a half years ago. He was previously marketing director at Nat-West’s mortgage business.

The company’s UK operations were put up for sale last November by its parent, the Australian financial services group AMP. Interested parties will be able to bid shortly. Whether a replacement is found for Lowe, or whether there will be any job losses among the 100-strong UK workforce will be decided by the eventual buyer of AMP Banking.

AMP Banking was set up in the UK to offer mortgages, savings and loans products to customers of AMP’s UK businesses, including NPI, London Life and Henderson Investors.

In November, AMP chief executive Andrew Mohl led a restructure of AMP’s UK operations. As part of the review, Mohl said AMP Banking would cease to create UK banking products and would cut its global workforce from 600 to 100 by December 2003.

The 700-strong direct sales force of its life assurance, pensions and insurance business, Pearl Assurance, was also axed.

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