Challenger eyes bigger presence with new customer division

23 May 2022

Investment management firm Challenger has unveiled plans to set up a customer division and made changes to its leadership team, as the business works to expand its reach across more channels.

The announcement follows a strong first-half showing from the business, which reported in February group-wide statutory net profit went up 27% to $282 million from a year earlier and normalised net profit after tax grew 21% to $166 million.

Challenger says the new division will encompass all customer functions for the group and will leverage the skills that currently sit across the business.

The business says an internal and external search will shortly begin for the role of Chief Customer Officer to lead the new division.

Chief Executive Life Angela Murphy will support the business in transitioning to the new structure, after which she has decided to leave the business.

As part of the leadership team changes, CFO, Life and Appointed Actuary Anton Kapel has been promoted to Chief Executive, Life and Solutions and will join the leadership team, effective June 1. His responsibilities will encompass Life investments, Investment Solutions and Actuarial.

“We have a unique opportunity to bring the best of Challenger to more Australians than we do today,” CEO and MD Nick Hamilton said.

“The new customer division will enable Challenger to meet our ambitions of expanding our customer reach and enhancing our proposition.

“The Chief Customer Officer will play an important role in driving our efforts to bring the best of Challenger to more customers.”