Lee Barnett, who previously reported to the managing director of AMP Financial Services, Craig Dunn, is now on a par with Dunn as one of chief executive officer Andrew Mohl's direct reports.
Mohl said in a statement the change in reporting line "reflects the crucial role that the information technology function plays in supporting and delivering AMP's business objectives.
"Lee has shown passion, drive and innovation in her approach to the IT function, with a strong focus on partnering with the business," he added.
Barnett said the IT function would "continue its strong alignment to the operating businesses".
Barnett was appointed CIO in 2002 after joining AMP in 1996 and subsequently holding senior IT roles in both Australia and the United Kingdom. Her responsibilities as CIO extend beyond IT to business support areas such as The Alliances Group, which manages all of AMP's third party relationships and WorkSpace, AMP's facilities management function.