Challenger has reorganised its investment reporting lines following the departure of chief investment officer, Allan Sheen, with Chris Durack moving to a general manager, investments role.

Durack’s role is a business, not investment function, with all of the internal investment team heads reporting to him. It is not the first time the top investment job has been a business management, not investment, role with Rob Adams sitting in the position before Sheen. Durack was previously co-head of institutional with Matt Perignon, with Perignon now general manager, institutional. The asset consultant and researcher relationship role covered by Durack has been absorbed by the business development and client servicing team of seven. Challenger will announced its annual results next Monday, but at the end of March it had $16.172 billion in funds under management, in the funds management division which includes boutiques.