Challenger funds management chief resigns

The chief executive of Challenger's funds management business announced he will depart later this year.

Ian Saines joined Challenger in March 2015 and helped funds under management grow to more than $80 billion for two divisions: Challenger Investment Partners and Fidante Partners.

Saines was previously a group executive at Commonwealth Bank's institutional banking and markets business, instrumental in designing and implementing the group's total capital solutions strategy.

"Ian led the business through the challenging GFC period and through to the most recent financial period where the continued progress of the Total Capital Solutions strategy led to a 10% lift in profits," former CBA chief executive Ian Narev said at the time.

Prior to CBA, Saines worked as managing director of Zurich Capital Markets Asia and was executive vice president at Bankers Trust.

He served in several directorship roles, including the Australian Financial Markets Association, and Air Lease Corporation.

Challenger managing director and chief executive Richard Howes said Saines will retire from Challenger confident in knowing that he had built a talented team with the depth, strength and capability of continuing to grow the business and to capture opportunities ahead.

Challenger has commenced recruiting for Saine's successor.

Read more: ChallengerIan SainesBankers TrustCommonwealth BankFidante PartnersIan NarevRichard Howes
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