Challenger has decided to combine its Life and Distribution, Product and Marketing teams at the same time as appointing Angela Murphy as its chief executive, life.
The company has told the Australian Securities Exchange that the life business will continue to sit alongside funds management and its recently acquired bank business creating three clear business lines.
Murphy has been chief operating officer of the distribution, product and marketing teams and is a member of Challenger’s leadership team.
Announcing the appointment of Murphy and the combining of the two businesses, Challenger managing director and chief executive, Richard Howes, said Murphy had a strong leadership track record and had played a key role in diversifying Challenger’s product distribution reach.
The Life business is also conducting an internal and external search process for a chief investment officer.
The company’s announcement said that Anton Kapel, who had been acting chief executive of the Life business, would resume his previous role as Challenger’s appointed actuary and chief financial officer of the Life business.