- Challenger (CGF) has appointed Nick Hamilton as managing director and chief executive officer (CEO), succeeding Richard Howes
- The company says Mr Hamilton has been chief executive of Challenger’s Funds Management business since 2019, overseeing a period of exceptional growth
- Prior to joining Challenger in 2015, he held a number of senior leadership roles at financial services businesses across Australia, the US and the UK
- Mr Hamilton will commence in his new role on January 1 whilst Mr Howes will remain available for Q1 2022
- Challenger shares are up 1.59 per cent to trade at $6.71
Challenger (CGF) has appointed Nick Hamilton as managing director and chief executive officer (CEO), succeeding Richard Howes.
The company said Mr Hamilton has been chief executive of Challenger’s Funds Management business since 2019, overseeing a period of exceptional growth, with funds under management reaching over $100 billion.
Prior to joining Challenger in 2015, he held a number of senior leadership roles at financial services businesses across Australia, the United States and the United Kingdom.
Challenger chairman, Peter Polson, said Mr Hamilton has the ideal leadership capabilities and attributes to drive the company’s next phase of growth.
“He has played a central role in diversifying Challenger’s offering across Australia, Asia and Europe, securing a number of high quality partnerships and bringing a suite of contemporary client solutions to market,” he said.
“With a deep understanding of our business, a clear vision for the future and the acumen to maximise the significant opportunities ahead, Nick is ideally placed to lead Challenger through this exciting next chapter.”
Mr Polson also thanked retiring CEO, Richard Howes, for his significant contribution.
“Richard has been a passionate advocate of Challenger’s purposed-driven culture and played a key role in building the business into what it is today,” Mr Polson said.
Mr Howes says it had been a great honour to lead Challenger.
“Challenger is a very special organisation – I am immensely proud of what we’ve achieved, and I have no doubt that Nick will lead Challenger to continued success,” he said.
Incoming CEO, Nick Hamilton, also commented.
“With a burgeoning population of retirement age, Challenger’s role in providing customers with financial security for a better retirement is more important than ever,” Mr Hamilton said.
“By focusing on meeting the needs of our diverse customer base as they prepare for and enter retirement, there’s a real opportunity to both meet a societal imperative and continue to grow our business.”
Mr Hamilton will commence in his new role on January 1 whilst Mr Howes will remain available for Q1 2022.
Challenger will undertake a search process for its new chief executive of its funds management business.
Challenger shares were up 1.59 per cent to trade at $6.71 at 3:20 pm AEDT.