Challenger bolsters asset management capabilities
Challenger Financial Services Groupaffirmed market speculation today with the appointment of Peter Greentree to head up its Australian equities operations following his departure yesterday fromDeutsche Asset Management(DeAM).
The group has also appointed former Rothschild Australia Asset Management chief economist Ron Woods into a newly created role as head of investment markets strategy.
The news yesterday that Greentree, who was DeAM head of Australian equities, will be departing was swiftly followed by the Deutsche announcing head of small companies Stuart Jordan will move into Greentree’s role and assume all Australian equity portfolio responsibilities.
Jordan has been at DeAM for over 13 years in which time he has held a variety of roles including as an analyst for both large and small companies.
As for Challenger, general manager for funds management and distribution, Rob Adams says Greentree’s appointment is a significant coup for the group as it aims to continue expanding its asset management capabilities.
“Peter has outstanding business management experience and an excellent performance record as a portfolio manager… His responsibilities will include the management of our existing Australian equity suite of funds as well as our planned entry into other asset classes such as property securities, international equities and domestic index funds” Adams says.
Woods’ role meanwhile will be to provide economic input to assist portfolio managers with stock selection and asset allocation, given his more than 20 years of experience in the field.
Greentree and Woods will both report to Adams with a commencement date for the pair to be confirmed.
During his nine years at Deutsche, Greentree also headed up the group’s top 100 industrials team, its asset allocation and was a senior portfolio manager.
Additionally, Challenger portfolio manager for the flagship Australian Share Fund Pano Raftopolous, and portfolio manager of its Smaller Companies Fund James Ring, will retain full control and responsibility for the performance of these funds, and will report to Greentree.
Adams says Greentree will be responsible for the overall business and portfolio management of the equities team and ensuring manufacturing quality levels across all of Challenger’s equity investment funds.
Recommended for you
A strong demand for core fixed income solutions has seen the Betashares Australian Composite Bond ETF surpass $1 billion in funds under management, driven by both advisers and investors.
As the end of the year approaches, two listed advice licensees have seen significant year-on-year improvement in their share price with only one firm reporting a loss since the start of 2025.
Having departed Magellan after more than 18 years, its former head of investment Gerald Stack has been appointed as chief executive of MFF Group.
With scalability becoming increasingly important for advice firms, a specialist consultant says organisational structure and strategic planning can be the biggest hurdles for those chasing growth.
