Challenger Financial Services (Challenger) has revised its organisational structure under chief executive Dominic Stevens.
The specialised funds component of the asset management business will merge with the broader funds management division, consolidating the group's funds management activities.
Rob Woods and Rob Adams will co-head the enlarged funds management business, with each taking the lead on specific functional areas.
The Australian Prudential Regulatory Authority-regulated Life Company component of the asset management business will now form its own dedicated division.
Richard Howes has been promoted to the role of Life chief executive.
Other changes will see group chief financial officer Paul Rogan moving to the job of capital risk and strategy executive general manager.
Mortgage management chief executive Brian Benari will take on the role of Challenger chief financial officer, which will also encompass chief operating officer responsibilities.
Current chief financial officer and chief operating officer for the mortgage management division Drew Hall will take up Benari's role.
Stevens, who was appointed in August, said the consolidation of the group's funds management activities is a logical step that provides opportunities on multiple levels.
"I look forward to continuing to work with the team as we navigate through these turbulent times, and maximise the opportunities that lie ahead," Stevens said.
