Challenger has restructured its senior management team following the departure of executive Rob Adams.
As part of the restructure, Challenger head of risk and treasury Richard Willis has been promoted to the new direct reporting role of chief risk officer.
In his new role, Willis will be responsible for overall risk management governance and reporting within Challenger, including market, credit, liquidity, operational and regulatory risks.
Challenger head of strategy and M&A Blair Beaton will become a direct report to group chief executive Dominic Stevens.
Challenger executive general manager of capital risk and strategy Paul Rogan will move to the newly-created role of chief executive of distribution, product and marketing.
Challenger joint chief executive of funds management Rob Woods will assume responsibility for the firm's funds management business following Adams' decision to leave the group.
"Since Rob Adams joined Challenger in 2003, he has played a pivotal role in the restructure of the organisation and the creation of the funds management business," Stevens said.
"I would like to thank Rob for his commitment and dedication and wish him well in the future.
"These changes, along with the recent recruitment of Jeremy Cooper as chair of Challenger retirement incomes, puts us in a strong position and clearly signals our intention to grow aggressively in the retirement incomes market."
