AMP Capital CEO Stephen Dunne has announced that he will retire from AMP Capital later in the year, after 12 years as Chief Executive Officer of the diversified investment manager.

AMP Chief Executive Officer Craig Meller acknowledged Stephen's substantial contribution to the company since joining AMP in 1994.

"Stephen has led AMP Capital through a period of considerable change in the sector both globally and domestically over the last ten years including the strategic alliance with Mitsubishi UFJ Trust and Banking Corporation (MUTB) in 2012 and the long relationship with China Life Insurance Company.

"AMP Capital has strong growth and investment returns driven by the internationalisation of the business with a reputation for its infrastructure and property investment capabilities that puts the customer at the centre of everything they do," said Craig Meller.

A global search is underway to identify an executive to lead the specialist investment manager which manages over $160 billion across a range of asset classes including equities, fixed interest, property and infrastructure.

AMP Capital is responsible for AMP’s investment management, investment performance and Asian expansion.