AMP QLD head of sales to depart

An AMP spokesperson has confirmed to ifa that Ivor Kay, head of sales for Queensland, will leave after six years with AMP.

Mr Kay joined AXA in 2006 ahead of its acquisition by AMP and has been involved in managing the company's aligned adviser- and IFA-facing business development managers across the state.

His imminent departure follows the news, first reported by ifa, that AMP is splitting its BDM functions along product lines, with separate sales representatives for the investments and insurance businesses to emerge following the restructure.

“We’re creating specialist roles aligned to our wealth management and insurance businesses, and bringing our broker and adviser bank sales teams together,” an AMP spokesperson told ifa in November.

“In a market with increasingly differentiated offers, this will allow the teams to develop a deeper knowledge of their respective product areas and better support advisers and brokers.”

The restructure comes amid speculation that AMP is seeking a purchaser for its life insurance subisidiary.