Challenger Financial Services (Challenger) has appointed Matthew Perrignon and Chris Durack as joint heads of its institutional funds management business.
Perrignon and Durack join Challenger from Sydney based rival Perpetual. The two hires replace Matt Gaden as head of institutional business. Gaden was promoted to head of distribution at Challenger after the departure of David Asplin late last year.
Perrignon will become general manager of institutional sales, while Durack is made head of institutional strategy. They will report to the chief executive of funds management, Rob Adams.
Adams said the new hires would also work closely with Gaden.
"As the distinction between institutional and retail markets become increasingly blurred, to have three very experienced, highly regarded and passionate leaders managing our market relationships gives Challenger a critical and unique advantage," Adams said.
Perpetual said it had no specific plans to replace Perrignon and Durack, but that the institutional team, which numbers about 20, was being built up over time anyway.
Andrew Francis is acting head of Perpetual's wholesale team while its actual head, Fiona Dunn, is on maternity leave.
