Challenger hires private capital lead

The annuities and funds management business has hired a new head of private capital and a senior institutional business development manager.

Marino Reginold has started a new position as head of private capital at Challenger following the firm's recent share deal with Elanor Investors.

Challenger last month offloaded its real estate business to the ASX-listed property fund manager in return for an 18 per cent stake.

The upshot is a strategic partnership where Challenger's multi-affiliate business, Fidante, distributes Elanor's existing and new funds.

For its part, Elanor would manage Challenger's $3.4 billion commercial property portfolio.

Before Reginold's seven years at Elanor, he worked as a real estate investment banker at Macquarie and JP Morgan.

Meantime,  George Moromalos has crossed over from Perpetual, where he led the distribution strategy for the institutional and wholesale channels.

Before his nine years at Perpetual, he worked at State Street Global Advisors.

Moromalas started his financial career as an account executive at Credit Suisse.

Challenger recently reported net income of $287.5 million for 2023, up 13 per cent on the previous year.