Ms Wallace joined the AMP board in May 2016, having consulted in the financial services sector across the Asia-Pacific region for more than 30 years.
Outgoing chair Brian Clark said he was “delighted” with Ms Wallace’s appointment, which came following a “well-considered and disciplined transition”.
“Vanessa has made an impressive contribution, drawing on her extensive financial services experience as well as her previous engagement in advising AMP Capital at a leadership level a few years ago,” he said.
Mr Clark said Ms Wallace had “developed a deep knowledge of the business” during the transitional period, and he had enjoyed working closely with her during the last few months” as part of the company’s succession planning program.
AMP chief executive Adam Tindall commended Mr Clark for his service, describing him as “an outstanding chairman”, and thanked him for “his leadership, wise counsel and commitment to the board”.
Ms Wallace, who also holds a board position with Wesfarmers, held multiple senior roles within Booz & Company’s global markets sector as well as leading the firm's strategy practice. After the merger with PwC that saw the company become Strategy&, she stayed on as executive chair in Japan.
