Following last week’s announcement that AMP had delayed its demerger program for two weeks, media speculation is mounting that British investment manager and industry “superwoman” Nicola Horlick is planning to move from the UK to manage AMP’s Asian funds management business from Hong Kong.

According to Britain’s Sunday Telegraph, 42-year-old Ms Horlick – a mother of five with a major management track record – will run AMP’s Far East fund management operations. But AMP is refusing to comment on what it calls “market speculation”.

Two months ago Ms Horlick quit suddenly as CEO of SG Asset Management, the Societe Generale-backed funds manager she co-founded in 1998.

Meanwhile, AMP CEO Andrew Mohl says the company needs another two weeks to collect information for the merger plan explanatory memorandum.

The memorandum in draft form was meant to go to the Australian Securities and Investments Commission by last Friday and be issued to AMP shareholders by mid-October in time for a demerger vote in early December. But Britain’s Financial Services Authority threw AMP’s timetable off track by releasing new capital requirements for life insurers.

Mr Mohl said AMP remains committed to completing the demerger this year. “While our timetable is tight the demerger remains achievable by the end of 2003.”