The chief executive of Australian investment manager Challenger’s Life division is set to depart amid a leadership shuffle.
Challenger, which focuses on managing retirement savings, including annuities and superannuation funds, announced last week that Angela Murphy, the current chief executive of the Life division, would depart as the company changed its leadership structure. Superannuation funds are part of Australia’s retirement savings programs.
Murphy’s LinkedIn profile indicates she held the role of chief executive of life since March 2021, after being Challenger’s chief executive of distribution, product and marketing since 2018. Before joining Challenger, she was the head of human resources at Australian bank Westpac, the profile said.
Creating New Division
Under the structure change, Challenger plans to create a new customer division to include all customer functions as the company seeks to tap a wider number of sales channels, the company said in a statement filed to the Australian Securities Exchange, or ASX. Challenger said it will begin an internal and external search for the newly created role of chief customer officer to lead the new division.
Challenger has two main divisions: The life segment provides annuity and guaranteed retirement income products, while the funds management segment focuses on the superannuation system’s savings phase.
Meanwhile, Anton Kapel, chief financial officer for life and appointed actuary, has been promoted to chief executive of life and solutions, joining the leadership team, effective 1 June, Challenger said. He will cover life investments, investment services and actuarial functions, the statement said, adding he has 17 years of experience in senior financial roles.
Kapel’s LinkedIn profile indicates he has been in his current role since 2018, coming from being the chief actuary at Australian financial company AMP.
