The boutique wealth manager is fighting to salvage its reputation as it battles multiple sexual harassment allegations against top executives. 

Sydney-based wealth manager AMP Capital's head of New Zealand, Bevan Graham; head of distribution, Greg McMaster; and portfolio manager and ethical investment specialist Kristen Le Mesurier have resigned from the firm, as the fallout over the promotion and demotion of Boe Pahari continues, «Australian Financial Review» reported on Friday.

A decade-long employee of AMP, Graham was the firm's NZ chief economist before being appointed managing director in January last year. McMaster joined the firm in 2012, while Le Mesurier had been with AMP Capital since 2015. 

According to the report, AMP Capital Asia-Pacific boss Craig Keary said in an email that Graham will remain with the firm until January 2021 to ensure a smooth transition, while McMaster will leave in September. Darren Beesley and Fiona Manning will replace Le Mesurier as co-managers of the group’s ethical balanced fund option.

Harassment Claims

AMP chief executive Francesco De Ferrari has been under fire for promoting Pahari to the company's second highest paid executive position despite his sanction two years ago. The firm's biggest shareholder, Harris Associates, said it would «engage aggressively» with De Ferrari as well as AMP's board regarding the firm's leadership and workplace culture.

Other top executives to leave this week include Australian equities head Genevieve Murray, sustainable investment boss Emily Woodland and global chief investment officer of equities David Allen.

String of Departures

Their departures cap an eventful week at the firm, which saw the resignation of chairman David Murray and the demotion of Pahari, the former chief of its investment management unit, whose involvement in a sexual harassment scandal resurfaced after his promotion on July 1.

Earlier this month, AMP Australia chief executive Alex Wade left AMP amid reports he had sent lewd photos to one or more staffers as well as conducted himself poorly in other ways. 

Last week, «AFR» leaked a company circular from AMP chief risk officer Phil Pakes that warned staff against disclosing information outside the company, after the press reported intimate details of staff meetings over the course of July.