Challenger Funds Management chief executive, Ian Saines is to depart the business.
The company has announced to the Australian Securities Exchange (ASX) that Saines has announced his intention to retire from Challenger later this year.
Saines has been with Challenger since March 2015 and is regarded as having played a key role in the success of the funds management business.
Commenting on the impending departure, Challenger managing director and chief executive, Richard Howes said Saines would retire confident in the knowledge that he had bult a talented team with the depth, strength and capability of continuing to grow the business and to capture opportunities ahead.
The announcement said Challenger had commenced an internal and external search for Saines’ successor.
It said Saines would work closely with his successor to ensure a smooth and seamless transition.