AMP chair Catherine Brenner has resigned.

Ms Brenner has made her exit following damning evidence of misconduct aired at the banking royal commission.

AMP’s directors will also take a 25 per cent pay cut for the remainder of 2018.

The financial services company says it is considering “employment and remuneration consequences” for those staff directly involved in charging fees for services that were never rendered.

The company’s recently-appointed chief Mike Wilkins will hold the position of interim executive chair of the financial services company.

Brian Salter, general counsel and company secretary, will also be leaving AMP.

Mr Salter will not receive remaining bonuses and incentives “as a result of the board exercising its discretion”, AMP said in a statement.

AMP is also faces potential criminal penalties for misleading the corporate regulator, ASIC.