Challenger Internationalacting chief executive Chris Cuffe has moved to quickly unveil his new senior management team after yesterday’s announcement the group will merge with CPH Investment Corporation.
Cuffe, who replaces Bill Ireland but only in an acting capacity until the conclusion of the merger, has snared Zurich Capital Markets Asia’s chief financial officer Brian Benari, who will join the group as general manager of investments in June.
Colonial First StateInvestments chief financial officer Tim Foster, will also join the group next month and will occupy the same role in the new group – Challenger Financial Services Group.
Former Colonial First State general manager, marketing and client services Joanna Wagstaff will come on board as general manager, marketing and communications.
Other additions include Hayden King (administration and operations general manager), Steven Rowe (human resources general manager) and Derek Goh (IT general manger). King and Goh were both previously with Colonial First State, while Rowe joined Challenger late last year.
Further additions to the payroll include new head of risk, capital and balance sheet Geoff Walker and new head of shareholder and media relations Tanya Atkins.
Walker and Atkins joined CPH last month, from AMP and Colonial First State respectively.
An announcement will be made shortly on filling the role of distribution and product strategy general manager and will complete the management team.
Former Challenger managing director Bill Ireland will remain as a non-executive director on the Challenger board until the end of the merger.
Challenger will also pay $1.25 million to Ireland, through his company, Universal Equity, which Challenger says has provided the services of Ireland to the group.
Cuffe is unlikely to experience a repeat of the intense scrutiny of his salary payout from Colonial earlier in the year as CPH is unlisted and the salary for his work at Challenger will remain strictly confidential after the merger.
Challenger says most of the new management team are currently employed by CPH Management, the responsible entity of CHP, and will remain CPH employees until the merger is completed.
