Challenger names Nick Hamilton as CEO

Challenger has appointed Nick Hamilton as managing director and chief executive, succeeding Richard Howes who announced his retirement in August.

Howes will stay on until March to support the transition.

Hamilton has led Challenger's fund management business since 2019 overseeing a period of exceptional growth and performance, with funds under management reaching over $100 billion.

Before joining Challenger, Hamilton held senior roles in several organisations including Fidante Partners, Thomson Reuters, Invesco, and First Sentier.

In a release to the Australian Securities Exchange Challenger chair, Peter Polson said Hamilton had the ideal leadership capabilities and attributes to drive Challenger's next growth phase.

Polson called him an outstanding candidate, with a proven track record of leading and growing high-performing businesses and driving innovation.

"Under his leadership, our funds management business has gone from strength to strength and is now one of the fastest-growing active asset managers in the country," he said.

"He has played a central role in diversifying Challenger's offering across Australia, Asia, and Europe, securing several high-quality partnerships and bringing a suite of contemporary client solutions to market.

"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," Polson said.

Hamilton 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.

"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."

Polson thanked Howes for his contribution to the company over almost two decades, adding that the new chief executive had steered the business through unprecedented external challenges.

Howes described Hamilton as a talented and respected executive who will spare no effort to deliver for our people, customers, and shareholders.

Challenger will begin the recruitment process for a new head of funds management.